Jazz Pharmaceuticals (NASDAQ:JAZZ) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Several other research firms also recently weighed in on JAZZ. JPMorgan Chase & Co. increased their price target on shares of Jazz Pharmaceuticals from $170.00 to $190.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Robert W. Baird initiated coverage on shares of Jazz Pharmaceuticals in a research note on Wednesday, January 3rd. They issued an outperform rating and a $160.00 price objective for the company. Barclays decreased their price target on Jazz Pharmaceuticals from $235.00 to $230.00 and set an overweight rating on the stock in a report on Friday, March 1st. Stifel Nicolaus upped their target price on Jazz Pharmaceuticals from $225.00 to $230.00 and gave the company a buy rating in a research note on Friday, March 15th. Finally, HC Wainwright decreased their price objective on shares of Jazz Pharmaceuticals from $204.00 to $200.00 and set a buy rating for the company in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $192.75.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ traded down $0.16 on Thursday, hitting $109.85. The company’s stock had a trading volume of 571,215 shares, compared to its average volume of 614,775. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.27 and a quick ratio of 1.90. The company has a market capitalization of $6.92 billion, a PE ratio of 22.68, a PEG ratio of 1.53 and a beta of 0.63. The company has a 50-day simple moving average of $116.44 and a 200 day simple moving average of $120.94. Jazz Pharmaceuticals has a 1 year low of $103.01 and a 1 year high of $146.70.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 earnings per share for the quarter, missing the consensus estimate of $4.44 by ($0.04). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. Sell-side analysts forecast that Jazz Pharmaceuticals will post 16.24 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,936 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $119.64, for a total transaction of $231,623.04. Following the transaction, the chief accounting officer now owns 8,364 shares of the company’s stock, valued at $1,000,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Philip L. Johnson acquired 12,000 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $119.65 per share, for a total transaction of $1,435,800.00. Following the completion of the purchase, the chief financial officer now owns 27,932 shares in the company, valued at $3,342,063.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Patricia Carr sold 1,936 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $119.64, for a total value of $231,623.04. Following the transaction, the chief accounting officer now directly owns 8,364 shares of the company’s stock, valued at $1,000,668.96. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestal Point Capital LP purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $89,175,000. Armistice Capital LLC lifted its holdings in Jazz Pharmaceuticals by 108.4% in the fourth quarter. Armistice Capital LLC now owns 651,626 shares of the specialty pharmaceutical company’s stock valued at $80,150,000 after acquiring an additional 338,882 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Jazz Pharmaceuticals by 558.6% in the third quarter. Los Angeles Capital Management LLC now owns 322,775 shares of the specialty pharmaceutical company’s stock valued at $41,780,000 after acquiring an additional 273,764 shares during the period. Pacer Advisors Inc. boosted its position in shares of Jazz Pharmaceuticals by 28.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,023,706 shares of the specialty pharmaceutical company’s stock worth $125,916,000 after purchasing an additional 224,865 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Jazz Pharmaceuticals by 242.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 270,574 shares of the specialty pharmaceutical company’s stock worth $35,023,000 after purchasing an additional 191,648 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.