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

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They currently have a $163.00 price target on the specialty pharmaceutical company’s stock. Piper Sandler’s target price indicates a potential upside of 32.48% from the stock’s current price.

Several other analysts have also recently issued reports on JAZZ. JPMorgan Chase & Co. upped their target price on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, August 19th. HC Wainwright reissued a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. TD Cowen reduced their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $175.00 in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $140.00 price target on shares of Jazz Pharmaceuticals in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Jazz Pharmaceuticals Trading Down 0.5 %

Shares of Jazz Pharmaceuticals stock opened at $123.04 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The stock’s 50 day simple moving average is $117.39 and its 200-day simple moving average is $112.11. The stock has a market cap of $7.44 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.02 and a beta of 0.57. Jazz Pharmaceuticals has a 1-year low of $99.06 and a 1-year high of $134.17.

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the chief executive officer now directly owns 428,976 shares in the company, valued at $47,547,699.84. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Neena M. Patil sold 3,700 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the sale, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. This trade represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,753 shares of company stock valued at $816,289. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 97 shares in the last quarter. GAMMA Investing LLC grew its stake in Jazz Pharmaceuticals by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the specialty pharmaceutical company’s stock worth $46,000 after purchasing an additional 121 shares in the last quarter. Arizona State Retirement System increased its holdings in Jazz Pharmaceuticals by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 16,580 shares of the specialty pharmaceutical company’s stock worth $1,770,000 after purchasing an additional 130 shares during the period. Coldstream Capital Management Inc. increased its holdings in Jazz Pharmaceuticals by 7.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,300 shares of the specialty pharmaceutical company’s stock worth $259,000 after purchasing an additional 165 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in Jazz Pharmaceuticals by 63.2% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 444 shares of the specialty pharmaceutical company’s stock valued at $49,000 after purchasing an additional 172 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.