Royal Bank of Canada Issues Pessimistic Forecast for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price lowered by stock analysts at Royal Bank of Canada from $179.00 to $178.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 24.24% from the company’s previous close.

Other research analysts have also issued reports about the company. Piper Sandler reiterated an “overweight” rating and set a $163.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Morgan Stanley raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $175.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen decreased their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.47.

Jazz Pharmaceuticals Trading Down 0.6 %

JAZZ stock opened at $143.27 on Wednesday. Jazz Pharmaceuticals has a 1-year low of $99.06 and a 1-year high of $148.06. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $125.87 and its 200-day moving average is $118.62. The firm has a market cap of $8.66 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.04 and a beta of 0.56.

Insiders Place Their Bets

In other news, CEO Bruce C. Cozadd sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $121.17, for a total transaction of $242,340.00. Following the completion of the sale, the chief executive officer now owns 427,025 shares of the company’s stock, valued at $51,742,619.25. This represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 5,053 shares of company stock worth $617,442. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JAZZ. LSV Asset Management lifted its holdings in shares of Jazz Pharmaceuticals by 1.5% in the fourth quarter. LSV Asset Management now owns 2,531,050 shares of the specialty pharmaceutical company’s stock valued at $311,699,000 after purchasing an additional 37,108 shares in the last quarter. Pacer Advisors Inc. raised its position in Jazz Pharmaceuticals by 5.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company’s stock valued at $272,713,000 after buying an additional 115,102 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Jazz Pharmaceuticals by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock valued at $250,619,000 after acquiring an additional 320,724 shares in the last quarter. Capital World Investors boosted its position in Jazz Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 1,923,342 shares of the specialty pharmaceutical company’s stock worth $236,860,000 after acquiring an additional 104,195 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Jazz Pharmaceuticals by 20.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock worth $225,076,000 after acquiring an additional 315,608 shares during the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Company Profile

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.