Jazz Pharmaceuticals (NASDAQ:JAZZ) received a $184.00 price objective from analysts at Royal Bank of Canada in a report released on Wednesday, The Fly reports. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 24.37% from the company’s previous close.
Several other brokerages have also recently weighed in on JAZZ. Morgan Stanley cut shares of Jazz Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $183.00 price target for the company. in a research report on Wednesday, July 11th. Stifel Nicolaus increased their price target on shares of Jazz Pharmaceuticals from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Piper Jaffray Companies reissued a “buy” rating and set a $213.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, August 8th. Cantor Fitzgerald set a $203.00 price target on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research cut shares of Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $191.94.
JAZZ traded up $5.76 during trading on Wednesday, hitting $147.95. 21,955 shares of the stock traded hands, compared to its average volume of 498,152. The stock has a market capitalization of $9.93 billion, a P/E ratio of 15.48, a PEG ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 3.62, a current ratio of 3.76 and a debt-to-equity ratio of 0.54. Jazz Pharmaceuticals has a 12-month low of $130.15 and a 12-month high of $184.00.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Tuesday, November 6th. The specialty pharmaceutical company reported $3.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.26. The business had revenue of $469.37 million during the quarter, compared to analysts’ expectations of $482.64 million. Jazz Pharmaceuticals had a net margin of 28.09% and a return on equity of 25.44%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.22 EPS. Sell-side analysts expect that Jazz Pharmaceuticals will post 11.71 EPS for the current fiscal year.
In related news, CFO Matthew P. Young sold 700 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $176.05, for a total value of $123,235.00. Following the completion of the transaction, the chief financial officer now directly owns 34,168 shares in the company, valued at approximately $6,015,276.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,300 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $159.45, for a total transaction of $207,285.00. Following the completion of the transaction, the chief executive officer now owns 278,615 shares of the company’s stock, valued at $44,425,161.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,730 shares of company stock valued at $2,796,532. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently modified their holdings of JAZZ. BlackRock Inc. increased its stake in shares of Jazz Pharmaceuticals by 64.0% in the 2nd quarter. BlackRock Inc. now owns 4,372,080 shares of the specialty pharmaceutical company’s stock worth $753,311,000 after acquiring an additional 1,706,417 shares in the last quarter. FMR LLC increased its stake in shares of Jazz Pharmaceuticals by 12.1% in the 2nd quarter. FMR LLC now owns 6,634,958 shares of the specialty pharmaceutical company’s stock worth $1,143,203,000 after acquiring an additional 715,595 shares in the last quarter. Congress Asset Management Co. MA bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $87,276,000. AGF Investments Inc. bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $78,345,000. Finally, Voya Investment Management LLC bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $70,215,000. Institutional investors own 92.95% of the company’s stock.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.
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