Jazz Pharmaceuticals (NASDAQ:JAZZ) Given Overweight Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $176.00 target price on the specialty pharmaceutical company’s stock, up from their previous target price of $163.00.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC increased their target price on shares of Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada decreased their target price on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Finally, TD Cowen reduced their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $182.47.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ opened at $144.17 on Wednesday. The business’s fifty day moving average price is $125.42 and its 200 day moving average price is $118.44. The firm has a market capitalization of $8.72 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a 12 month low of $99.06 and a 12 month high of $148.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. Following the completion of the transaction, the chief executive officer now directly owns 425,525 shares of the company’s stock, valued at $52,522,550.75. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 5,053 shares of company stock valued at $617,442 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management grew its stake in Jazz Pharmaceuticals by 1.5% in the 4th quarter. LSV Asset Management now owns 2,531,050 shares of the specialty pharmaceutical company’s stock worth $311,699,000 after acquiring an additional 37,108 shares during the period. Pacer Advisors Inc. grew its stake in Jazz Pharmaceuticals by 5.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company’s stock worth $272,713,000 after acquiring an additional 115,102 shares during the period. Dimensional Fund Advisors LP grew its stake in Jazz Pharmaceuticals by 18.7% in 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 acquiring an additional 320,724 shares during the period. Capital World Investors grew its stake in Jazz Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 1,923,342 shares of the specialty pharmaceutical company’s stock worth $236,860,000 after acquiring an additional 104,195 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Jazz Pharmaceuticals by 20.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock worth $225,076,000 after acquiring an additional 315,608 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

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.