Needham & Company LLC Reaffirms Buy Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Needham & Company LLC reaffirmed their buy rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $222.00 price objective on the specialty pharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on Jazz Pharmaceuticals from $170.00 to $190.00 and gave the company an overweight rating in a report on Friday, March 22nd. StockNews.com raised Jazz Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, January 30th. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, February 29th. Stifel Nicolaus lifted their price objective on shares of Jazz Pharmaceuticals from $225.00 to $230.00 and gave the company a buy rating in a research report on Friday, March 15th. Finally, Barclays dropped their target price on shares of Jazz Pharmaceuticals from $235.00 to $230.00 and set an overweight rating for the company in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of Moderate Buy and an average target price of $192.75.

Jazz Pharmaceuticals Stock Up 0.7 %

JAZZ stock opened at $110.01 on Thursday. The business’s 50-day moving average price is $116.44 and its 200-day moving average price is $120.94. The stock has a market cap of $6.94 billion, a P/E ratio of 22.68, a PEG ratio of 1.53 and a beta of 0.63. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. Jazz Pharmaceuticals has a twelve month low of $103.01 and a twelve month high of $146.70.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued 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 firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. On average, equities research analysts forecast that Jazz Pharmaceuticals will post 16.24 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Jazz Pharmaceuticals

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Jazz Pharmaceuticals by 0.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,082 shares of the specialty pharmaceutical company’s stock worth $1,937,000 after purchasing an additional 99 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Jazz Pharmaceuticals by 2.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,076 shares of the specialty pharmaceutical company’s stock worth $528,000 after acquiring an additional 100 shares during the last quarter. Waterfront Wealth Inc. lifted its stake in shares of Jazz Pharmaceuticals by 1.2% during the 4th quarter. Waterfront Wealth Inc. now owns 8,633 shares of the specialty pharmaceutical company’s stock worth $1,062,000 after acquiring an additional 103 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in Jazz Pharmaceuticals by 4.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,646 shares of the specialty pharmaceutical company’s stock valued at $325,000 after acquiring an additional 108 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its position in Jazz Pharmaceuticals by 0.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 29,749 shares of the specialty pharmaceutical company’s stock valued at $3,659,000 after acquiring an additional 108 shares during the last quarter. 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.