Piper Sandler Reaffirms “Overweight” Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Piper Sandler reaffirmed their overweight rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has a $163.00 target price on the specialty pharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $179.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. Robert W. Baird upped their price target on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and set a $207.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday. Finally, TD Cowen reduced their target price on 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 equities research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $123.04 on Thursday. 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 firm has a market capitalization of $7.44 billion, a PE ratio of 17.33, a P/E/G ratio of 1.02 and a beta of 0.57. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $134.17. The company has a 50-day moving average price of $117.39 and a two-hundred day moving average price of $112.16.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the completion of the sale, the chief executive officer now owns 428,976 shares of the company’s stock, valued at approximately $47,547,699.84. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neena M. Patil sold 3,700 shares of Jazz Pharmaceuticals stock in a transaction on Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the completion of the transaction, the executive vice president now owns 33,048 shares in the company, valued at approximately $4,078,453.68. The trade was a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,753 shares of company stock worth $816,289 over the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Swedbank AB purchased a new position in Jazz Pharmaceuticals in the 2nd quarter worth approximately $106,936,000. Rubric Capital Management LP bought a new position in shares of Jazz Pharmaceuticals in the second quarter worth approximately $65,812,000. Pacer Advisors Inc. increased its stake in shares of Jazz Pharmaceuticals by 40.7% in the second quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock worth $194,346,000 after buying an additional 527,187 shares during the period. Baupost Group LLC MA raised its holdings in Jazz Pharmaceuticals by 52.8% during the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock valued at $136,000,000 after buying an additional 440,552 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Jazz Pharmaceuticals by 1,808.4% during the 2nd quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company’s stock valued at $48,122,000 after buying an additional 427,246 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

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.