Jazz Pharmaceuticals (NASDAQ:JAZZ) Hits New 52-Week High – Here’s Why

Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) reached a new 52-week high on Tuesday . The company traded as high as $139.00 and last traded at $138.27, with a volume of 30372 shares. The stock had previously closed at $136.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JAZZ. HC Wainwright reiterated a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $163.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Morgan Stanley upgraded shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $175.00 in a report on Thursday, December 12th. TD Cowen decreased their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals presently has an average rating of “Buy” and an average price target of $180.33.

Jazz Pharmaceuticals Stock Up 2.2 %

The stock’s 50 day moving average is $125.08 and its 200 day moving average is $118.24. The company has a market capitalization of $8.45 billion, a PE ratio of 19.62, a PEG ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Insiders Place Their Bets

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.31, for a total transaction of $183,465.00. Following the sale, the chief executive officer now directly owns 439,744 shares in the company, valued at approximately $53,785,088.64. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,053 shares of company stock worth $617,442 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. IFP Advisors Inc purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $25,000. Quadrant Capital Group LLC boosted its position in Jazz Pharmaceuticals by 97.1% during the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock valued at $25,000 after buying an additional 101 shares during the period. Elequin Capital LP increased its holdings in shares of Jazz Pharmaceuticals by 677.8% in the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after buying an additional 183 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, Allianz SE bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $29,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Company Profile

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.