Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Strong Trading Volume on Analyst Upgrade

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) saw strong trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,787,968 shares were traded during trading, an increase of 167% from the previous session’s volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

JAZZ has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and set a $179.00 price objective on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $163.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Robert W. Baird lifted their price target on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC lifted their price target on Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $182.47.

Insiders Place Their Bets

In other news, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. Following the completion of the sale, the chief executive officer now owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 5,053 shares of company stock valued at $617,442 over the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. LSV Asset Management raised its stake in shares of Jazz Pharmaceuticals by 1.5% during 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 acquiring an additional 37,108 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Jazz Pharmaceuticals by 5.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company’s stock valued at $272,713,000 after acquiring an additional 115,102 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Jazz Pharmaceuticals by 18.7% during the fourth 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 raised its stake in Jazz Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 1,923,342 shares of the specialty pharmaceutical company’s stock worth $236,860,000 after buying an additional 104,195 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Jazz Pharmaceuticals by 20.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock worth $225,076,000 after buying an additional 315,608 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

The business has a fifty day simple moving average of $125.42 and a two-hundred day simple moving average of $118.44. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The company has a market cap of $8.72 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56.

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.