Jazz Pharmaceuticals (NASDAQ:JAZZ) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a research note issued to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $179.00 price objective on the specialty pharmaceutical company’s stock.

Several other brokerages have also issued reports on JAZZ. HC Wainwright reaffirmed a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Robert W. Baird boosted their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, November 18th. TD Cowen decreased their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $140.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.33.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $120.15 on Tuesday. The company has a market capitalization of $7.26 billion, a P/E ratio of 16.92, a PEG ratio of 1.04 and a beta of 0.57. The company has a fifty day moving average price of $116.59 and a 200-day moving average price of $111.85. 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 52-week low of $99.06 and a 52-week high of $134.17.

Insider Buying and Selling

In related news, EVP Neena M. Patil sold 3,700 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $123.41, for a total transaction of $456,617.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bruce C. Cozadd sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total transaction of $242,340.00. Following the transaction, the chief executive officer now directly owns 427,025 shares in the company, valued at approximately $51,742,619.25. This represents a 0.47 % 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 in the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in Jazz Pharmaceuticals in the second quarter worth $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Jazz Pharmaceuticals by 55.1% in the 2nd 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 during the last quarter. Gladius Capital Management LP purchased a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $33,000. GAMMA Investing LLC grew its position in Jazz Pharmaceuticals by 41.3% during the third quarter. GAMMA Investing LLC now owns 414 shares of the specialty pharmaceutical company’s stock valued at $46,000 after buying an additional 121 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Jazz Pharmaceuticals by 577.0% during the third quarter. Venturi Wealth Management LLC now owns 826 shares of the specialty pharmaceutical company’s stock worth $92,000 after buying an additional 704 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other 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.