Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $175.00 Price Target at Royal Bank of Canada

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective raised by stock analysts at Royal Bank of Canada from $174.00 to $175.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 59.90% from the company’s current price.

JAZZ has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $140.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. Wells Fargo & Company reduced their price objective on Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. UBS Group decreased their price objective on Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, August 1st. Finally, Robert W. Baird decreased their price target on Jazz Pharmaceuticals from $160.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $173.14.

Jazz Pharmaceuticals Stock Performance

JAZZ traded up $0.88 on Friday, reaching $109.44. 57,344 shares of the stock were exchanged, compared to its average volume of 684,705. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.37 and a quick ratio of 2.02. The company’s 50-day moving average price is $111.07 and its 200 day moving average price is $110.59. The firm has a market capitalization of $6.90 billion, a PE ratio of 22.56, a PEG ratio of 1.36 and a beta of 0.57. Jazz Pharmaceuticals has a fifty-two week low of $99.06 and a fifty-two week high of $137.38.

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

Insider Buying and Selling

In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 1,410 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 14,531 shares in the company, valued at approximately $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 accessible through this hyperlink. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of hedge funds have recently made changes to their positions in JAZZ. Allianz Asset Management GmbH increased its position in shares of Jazz Pharmaceuticals by 59.0% during the fourth quarter. Allianz Asset Management GmbH now owns 24,640 shares of the specialty pharmaceutical company’s stock worth $3,031,000 after purchasing an additional 9,146 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Jazz Pharmaceuticals by 565.9% during the fourth quarter. Bank of Nova Scotia now owns 11,153 shares of the specialty pharmaceutical company’s stock worth $1,372,000 after buying an additional 9,478 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Jazz Pharmaceuticals by 104.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 279,428 shares of the specialty pharmaceutical company’s stock valued at $34,370,000 after buying an additional 142,606 shares during the last quarter. Vestal Point Capital LP purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth about $89,175,000. Finally, Seven Eight Capital LP acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth about $1,172,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.