Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a strong-buy rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on JAZZ. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. Stifel Nicolaus set a $275.00 price objective on Jazz Pharmaceuticals in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their target price on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Robert W. Baird raised their target price on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, Bank of America lifted their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $291.15.

Jazz Pharmaceuticals Stock Up 1.1%

Jazz Pharmaceuticals stock opened at $235.67 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. Jazz Pharmaceuticals has a one year low of $128.80 and a one year high of $266.38. The company has a 50-day simple moving average of $247.07 and a 200-day simple moving average of $229.37. The firm has a market capitalization of $15.30 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.21 and a beta of 0.37.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($8.25) earnings per share. As a group, equities analysts expect that Jazz Pharmaceuticals will post 21.61 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $252.98, for a total transaction of $1,517,880.00. Following the sale, the director owned 360,682 shares of the company’s stock, valued at $91,245,332.36. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Renee D. Gala sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $243.03, for a total value of $486,060.00. Following the completion of the sale, the chief executive officer owned 143,394 shares of the company’s stock, valued at $34,849,043.82. This trade represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 92,121 shares of company stock valued at $23,001,022. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Jazz Pharmaceuticals by 22.4% in the 3rd quarter. Versant Capital Management Inc now owns 2,886 shares of the specialty pharmaceutical company’s stock worth $668,000 after buying an additional 529 shares in the last quarter. Parrish Capital LLC boosted its stake in Jazz Pharmaceuticals by 11.1% during the third quarter. Parrish Capital LLC now owns 3,536 shares of the specialty pharmaceutical company’s stock valued at $819,000 after buying an additional 354 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Jazz Pharmaceuticals by 9.4% during the second quarter. Sequoia Financial Advisors LLC now owns 4,527 shares of the specialty pharmaceutical company’s stock valued at $1,091,000 after buying an additional 389 shares in the last quarter. Tidal Investments LLC grew its holdings in Jazz Pharmaceuticals by 8.3% during the second quarter. Tidal Investments LLC now owns 21,028 shares of the specialty pharmaceutical company’s stock worth $5,067,000 after acquiring an additional 1,615 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Jazz Pharmaceuticals during the second quarter worth about $386,000. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.