Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Large Volume Increase After Analyst Upgrade

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) saw unusually-high trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Approximately 1,787,968 shares traded hands during mid-day trading, an increase of 167% from the previous session’s volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

JAZZ has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and set a $179.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. Morgan Stanley upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $163.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

Insider Buying and Selling

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total transaction of $185,145.00. Following the transaction, the chief executive officer now directly owns 425,525 shares in the company, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 5,053 shares of company stock worth $617,442. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $25,000. Quadrant Capital Group LLC increased its stake in Jazz Pharmaceuticals by 97.1% during the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Elequin Capital LP increased its stake in Jazz Pharmaceuticals by 677.8% during the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after acquiring an additional 183 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $28,000. Finally, Allianz SE acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth about $29,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Price Performance

The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The company has a 50 day simple moving average of $125.87 and a 200 day simple moving average of $118.62.

Jazz Pharmaceuticals Company Profile

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.