Wells Fargo & Company Upgrades Jazz Pharmaceuticals (NASDAQ:JAZZ) to Overweight

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $170.00 price objective on the specialty pharmaceutical company’s stock, up from their previous price objective of $130.00. Wells Fargo & Company‘s price objective suggests a potential upside of 25.52% from the company’s previous close.

A number of other analysts also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $179.00 price objective on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. TD Cowen cut their target price on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $207.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $180.33.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock opened at $135.44 on Thursday. The company has a fifty day simple moving average of $122.97 and a 200-day simple moving average of $116.89. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.92 and a beta of 0.56. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals has a 52-week low of $99.06 and a 52-week high of $136.55.

Insider Transactions at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.31, for a total transaction of $183,465.00. Following the completion of the transaction, the chief executive officer now directly owns 439,744 shares in the company, valued at $53,785,088.64. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,053 shares of company stock worth $617,442 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several hedge funds have recently made changes to their positions in JAZZ. IFP Advisors Inc purchased a new stake in Jazz Pharmaceuticals during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC increased its position in shares of Jazz Pharmaceuticals by 97.1% during the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after acquiring an additional 101 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at $28,000. Allianz SE acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at $29,000. Finally, Jones Financial Companies Lllp boosted its holdings in Jazz Pharmaceuticals by 75.1% in the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company’s stock valued at $37,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds 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.