Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price Up 4.1% – Here’s What Happened

Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s stock price was up 4.1% during mid-day trading on Tuesday . The stock traded as high as $115.66 and last traded at $115.57. Approximately 107,162 shares changed hands during trading, a decline of 84% from the average daily volume of 676,264 shares. The stock had previously closed at $111.03.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of a number of recent analyst reports. UBS Group lowered their price objective on Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada increased their price objective on Jazz Pharmaceuticals from $174.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. StockNews.com upgraded Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $140.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.14.

Jazz Pharmaceuticals Price Performance

The company has a market cap of $7.32 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.34 and a beta of 0.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.02 and a current ratio of 2.37. The firm’s fifty day moving average is $110.59 and its two-hundred day moving average is $109.76.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.87. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. As a group, analysts anticipate that Jazz Pharmaceuticals plc will post 16.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $108.30, for a total transaction of $152,703.00. Following the completion of the sale, the senior vice president now owns 14,531 shares of the company’s stock, valued at $1,573,707.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kovack Advisors Inc. increased its holdings in Jazz Pharmaceuticals by 88.8% in the first quarter. Kovack Advisors Inc. now owns 56,599 shares of the specialty pharmaceutical company’s stock valued at $6,816,000 after buying an additional 26,628 shares in the last quarter. John G Ullman & Associates Inc. acquired a new position in shares of Jazz Pharmaceuticals in the first quarter worth about $3,631,000. Swedbank AB acquired a new position in shares of Jazz Pharmaceuticals in the second quarter worth about $106,936,000. Vanguard Group Inc. raised its position in shares of Jazz Pharmaceuticals by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,448,689 shares of the specialty pharmaceutical company’s stock worth $776,551,000 after acquiring an additional 84,941 shares during the period. Finally, LSV Asset Management raised its position in shares of Jazz Pharmaceuticals by 1.6% in the first quarter. LSV Asset Management now owns 2,380,858 shares of the specialty pharmaceutical company’s stock worth $286,703,000 after acquiring an additional 37,631 shares during the period. Hedge funds and other 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.