Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded by Sanford C. Bernstein to “Hold” Rating

Sanford C. Bernstein upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) to a hold rating in a report published on Thursday morning,Zacks.com reports.

Several other brokerages also recently issued reports on JAZZ. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Friday, March 27th. Bank of America upped their target price on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Leerink Partners raised their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $188.00 to $307.00 in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.53.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $239.83 on Thursday. The stock has a fifty day moving average price of $202.44 and a 200 day moving average price of $179.99. The stock has a market cap of $15.05 billion, a PE ratio of -11,985.51, a P/E/G ratio of 0.43 and a beta of 0.27. Jazz Pharmaceuticals has a 1 year low of $105.00 and a 1 year high of $243.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The company had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Sell-side analysts forecast that Jazz Pharmaceuticals will post 20.75 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Neena M. Patil sold 55,600 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the transaction, the executive vice president owned 56,862 shares of the company’s stock, valued at approximately $10,892,484.72. This represents a 49.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the transaction, the senior vice president directly owned 28,728 shares in the company, valued at approximately $5,587,308.72. This represents a 15.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 74,015 shares of company stock valued at $14,180,486 in the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Jazz Pharmaceuticals by 10.9% during the 1st quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after purchasing an additional 99,656 shares during the period. Tri Locum Partners LP purchased a new stake in shares of Jazz Pharmaceuticals in the first quarter worth about $29,995,000. Amundi grew its stake in shares of Jazz Pharmaceuticals by 2,445.3% in the first quarter. Amundi now owns 55,640 shares of the specialty pharmaceutical company’s stock valued at $10,519,000 after buying an additional 53,454 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 94.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,520 shares of the specialty pharmaceutical company’s stock valued at $287,000 after buying an additional 739 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Jazz Pharmaceuticals by 22.0% during the 1st quarter. California State Teachers Retirement System now owns 63,657 shares of the specialty pharmaceutical company’s stock valued at $12,034,000 after buying an additional 11,486 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.