Morgan Stanley Reaffirms Overweight Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $183.00 target price on the specialty pharmaceutical company’s stock, up from their previous target price of $175.00. Morgan Stanley’s target price would suggest a potential upside of 31.38% from the company’s previous close.

A number of other brokerages also recently issued reports on JAZZ. Barclays reissued an “overweight” rating and set a $200.00 price target (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Truist Financial boosted their price target on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $170.00 in a research report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald lowered Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and upped their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $189.40.

Jazz Pharmaceuticals Stock Up 2.1 %

Jazz Pharmaceuticals stock traded up $2.84 during midday trading on Friday, reaching $139.29. The company’s stock had a trading volume of 497,795 shares, compared to its average volume of 746,949. Jazz Pharmaceuticals has a 52-week low of $99.06 and a 52-week high of $148.06. The stock has a market capitalization of $8.46 billion, a P/E ratio of 19.59, a PEG ratio of 1.04 and a beta of 0.56. 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 stock’s 50-day simple moving average is $127.85 and its 200-day simple moving average is $119.83.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 6,500 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $144.25, for a total value of $937,625.00. Following the completion of the sale, the chief executive officer now directly owns 464,058 shares of the company’s stock, valued at approximately $66,940,366.50. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Patricia Carr sold 4,813 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $144.42, for a total transaction of $695,093.46. Following the transaction, the chief accounting officer now owns 8,237 shares in the company, valued at approximately $1,189,587.54. The trade was a 36.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,113 shares of company stock valued at $2,551,834. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. raised its position in Jazz Pharmaceuticals by 117.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company’s stock worth $115,681,000 after purchasing an additional 507,234 shares during the last quarter. Darwin Global Management Ltd. bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $59,668,000. Dimensional Fund Advisors LP increased its position in shares of Jazz Pharmaceuticals by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock worth $250,619,000 after purchasing an additional 320,724 shares during the last quarter. 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 valued at $225,076,000 after buying an additional 315,608 shares during the period. Finally, GMT Capital Corp lifted its stake in shares of Jazz Pharmaceuticals by 140.0% during the 4th quarter. GMT Capital Corp now owns 508,800 shares of the specialty pharmaceutical company’s stock worth $62,659,000 after buying an additional 296,800 shares during the last quarter. 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.