Zacks Investment Research upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $158.00 target price on the specialty pharmaceutical company’s stock.
According to Zacks, “Jazz’s key drug, Xyrem, witnessed improved volume trends in 2018 on the back of awareness efforts. The label expansion of Xyrem in pediatric patients is likely to boost Jazz’s top line. Management seems confident that Xyrem will continue to generate volume growth in 2019. Meanwhile, Jazz’s lead pipeline candidate, solriamfetol complements the sleep disorder portfolio and successful development will offset decline in Xyrem’s sales following patent expiry in 2023. Jazz’s leukemia drug, Vyxeos, also witnessed strong growth in late 2018. Launch in Europe will also boost sales in 2019. However, Jazz has been facing supply crunch for its leukemia drug, Erwinaze, owing to constrained manufacturing capacity. These supply challenges are expected to continue in 2019. Earnings estimates moved upward ahead of the company’s Q1 earnings release. The company has a positive record of earnings surprises in the recent quarters.”
JAZZ has been the subject of a number of other research reports. Cantor Fitzgerald restated a buy rating and set a $185.00 price target on shares of Jazz Pharmaceuticals in a report on Tuesday, February 12th. Oppenheimer set a $180.00 price target on shares of Jazz Pharmaceuticals and gave the stock a buy rating in a report on Sunday, December 23rd. Wells Fargo & Co set a $162.00 target price on shares of Jazz Pharmaceuticals and gave the company a buy rating in a report on Tuesday, March 19th. TheStreet downgraded shares of Jazz Pharmaceuticals from a b- rating to a c+ rating in a report on Tuesday, February 19th. Finally, BidaskClub upgraded shares of Jazz Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, December 18th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $182.71.
NASDAQ:JAZZ opened at $135.90 on Tuesday. Jazz Pharmaceuticals has a 52 week low of $113.52 and a 52 week high of $184.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.42 and a current ratio of 3.57. The stock has a market cap of $7.90 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, February 26th. The specialty pharmaceutical company reported $3.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.61. Jazz Pharmaceuticals had a net margin of 23.64% and a return on equity of 26.20%. The firm had revenue of $476.46 million for the quarter, compared to analyst estimates of $459.48 million. During the same period last year, the company posted $2.95 EPS. Jazz Pharmaceuticals’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts expect that Jazz Pharmaceuticals will post 13.19 EPS for the current fiscal year.
In related news, CFO Matthew P. Young sold 1,916 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $131.46, for a total transaction of $251,877.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew P. Young sold 1,152 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $135.41, for a total transaction of $155,992.32. Following the transaction, the chief financial officer now directly owns 38,700 shares in the company, valued at approximately $5,240,367. The disclosure for this sale can be found here. Insiders have sold 11,668 shares of company stock worth $1,606,567 in the last three months. Insiders own 3.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Jazz Pharmaceuticals by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 1,912,173 shares of the specialty pharmaceutical company’s stock worth $321,494,000 after acquiring an additional 56,291 shares in the last quarter. Bank of New York Mellon Corp increased its position in Jazz Pharmaceuticals by 14.0% during the third quarter. Bank of New York Mellon Corp now owns 1,690,385 shares of the specialty pharmaceutical company’s stock worth $284,205,000 after acquiring an additional 207,954 shares during the period. Martingale Asset Management L P increased its position in Jazz Pharmaceuticals by 10,786.8% during the third quarter. Martingale Asset Management L P now owns 174,516 shares of the specialty pharmaceutical company’s stock worth $29,342,000 after acquiring an additional 172,913 shares during the period. Dimensional Fund Advisors LP increased its position in Jazz Pharmaceuticals by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 302,539 shares of the specialty pharmaceutical company’s stock worth $50,861,000 after acquiring an additional 11,988 shares during the period. Finally, United Services Automobile Association increased its position in Jazz Pharmaceuticals by 53.4% during the third quarter. United Services Automobile Association now owns 18,537 shares of the specialty pharmaceutical company’s stock worth $3,117,000 after acquiring an additional 6,455 shares during the period. 93.41% of the stock is owned by institutional investors.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet 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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