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

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a research note issued on Thursday,Benzinga reports. They currently have a $163.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $166.00. Piper Sandler’s price objective would indicate a potential upside of 28.68% from the stock’s previous close.

Several other equities research analysts also recently issued reports on JAZZ. Wells Fargo & Company decreased their price target on Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Needham & Company LLC restated a “buy” rating and set a $207.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, November 7th. StockNews.com upgraded shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, HC Wainwright restated a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $175.33.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $126.67 on Thursday. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.98 and a beta of 0.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. Jazz Pharmaceuticals has a fifty-two week low of $99.06 and a fifty-two week high of $134.17. The firm’s 50-day simple moving average is $113.29 and its 200 day simple moving average is $110.62.

Insider Activity at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 3,700 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $123.41, for a total value of $456,617.00. Following the completion of the transaction, the executive vice president now directly owns 33,048 shares of the company’s stock, valued at $4,078,453.68. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of the business’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 sale, the chief executive officer now owns 428,976 shares in the company, valued at approximately $47,547,699.84. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,110 shares of company stock worth $720,160. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Jazz Pharmaceuticals by 13,450.0% in the 2nd quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company’s stock worth $29,000 after purchasing an additional 269 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Jazz Pharmaceuticals in the second quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock worth $30,000 after buying an additional 97 shares in the last quarter. GAMMA Investing LLC boosted its stake in Jazz Pharmaceuticals by 65.5% during the second quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock valued at $31,000 after buying an additional 116 shares during the period. Finally, Gladius Capital Management LP purchased a new position in Jazz Pharmaceuticals during the second quarter worth about $33,000. 89.14% of the stock is currently owned by institutional investors.

About Jazz Pharmaceuticals

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.