Jazz Pharmaceuticals (NASDAQ:JAZZ) Earns “Buy” Rating from Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $207.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 68.24% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Piper Sandler reissued an “overweight” rating and issued a $163.00 target price (down from $166.00) on shares of Jazz Pharmaceuticals in a report on Thursday, November 21st. TD Cowen dropped their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $140.00 target price on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Jazz Pharmaceuticals Stock Down 0.5 %

JAZZ stock opened at $123.04 on Thursday. The company’s 50 day moving average is $117.39 and its two-hundred day moving average is $112.11. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $134.17. 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 stock has a market cap of $7.44 billion, a P/E ratio of 17.33, a PEG ratio of 1.02 and a beta of 0.57.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the chief executive officer now directly owns 428,976 shares of the company’s stock, valued at approximately $47,547,699.84. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Neena M. Patil sold 3,700 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $123.41, for a total value of $456,617.00. Following the completion of the sale, the executive vice president now owns 33,048 shares in the company, valued at approximately $4,078,453.68. This trade represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,753 shares of company stock worth $816,289 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in JAZZ. Swedbank AB acquired a new position in Jazz Pharmaceuticals during the second quarter worth about $106,936,000. Rubric Capital Management LP acquired a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter worth approximately $65,812,000. Pacer Advisors Inc. increased its stake in Jazz Pharmaceuticals by 40.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock valued at $194,346,000 after purchasing an additional 527,187 shares in the last quarter. Baupost Group LLC MA raised its holdings in Jazz Pharmaceuticals by 52.8% during the second quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock worth $136,000,000 after purchasing an additional 440,552 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Jazz Pharmaceuticals by 1,808.4% during the second quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company’s stock worth $48,122,000 after purchasing an additional 427,246 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.