Jazz Pharmaceuticals (NASDAQ:JAZZ) PT Raised to $175.00 at Royal Bank of Canada

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price lifted by Royal Bank of Canada from $174.00 to $175.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the specialty pharmaceutical company’s stock.

Several other research firms have also recently commented on JAZZ. UBS Group lowered their target price on shares of Jazz Pharmaceuticals from $117.00 to $113.00 and set a neutral rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company dropped their target price on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an equal weight rating on the stock in a research report on Thursday, August 1st. Robert W. Baird dropped their target price on Jazz Pharmaceuticals from $160.00 to $154.00 and set an outperform rating on the stock in a report on Thursday, August 1st. Piper Sandler cut their price objective on Jazz Pharmaceuticals from $188.00 to $166.00 and set an overweight rating for the company in a report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $205.00 price objective on shares of Jazz Pharmaceuticals in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $173.14.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ stock opened at $108.52 on Friday. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $137.38. The company has a market capitalization of $6.84 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $110.97 and a 200-day simple moving average of $110.18.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.87. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Jazz Pharmaceuticals had a return on equity of 28.65% and a net margin of 10.10%. Equities research analysts anticipate that Jazz Pharmaceuticals will post 16.03 earnings per share for the current fiscal year.

Insider Activity at Jazz Pharmaceuticals

In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $108.30, for a total value of $152,703.00. Following the completion of the sale, the senior vice president now directly owns 14,531 shares in the company, valued at approximately $1,573,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its stake in shares of Jazz Pharmaceuticals by 59.0% during the fourth quarter. Allianz Asset Management GmbH now owns 24,640 shares of the specialty pharmaceutical company’s stock valued at $3,031,000 after purchasing an additional 9,146 shares in the last quarter. Bank of Nova Scotia raised its stake in Jazz Pharmaceuticals by 565.9% during the fourth quarter. Bank of Nova Scotia now owns 11,153 shares of the specialty pharmaceutical company’s stock worth $1,372,000 after buying an additional 9,478 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Jazz Pharmaceuticals by 104.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 279,428 shares of the specialty pharmaceutical company’s stock valued at $34,370,000 after purchasing an additional 142,606 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $89,175,000. Finally, Seven Eight Capital LP bought a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $1,172,000. Institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.