Zacks Investment Research upgraded shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $174.00 target price on the specialty pharmaceutical company’s stock.
According to Zacks, “Jazz’s largest franchise is its sleep disorder portfolio. The company’s sleep disorder drug, Xyrem, is the only FDA-approved product for both cataplexy and EDS. Its lead pipeline candidate, JZP-110, being developed for the treatment of EDS in patients suffering from narcolepsy and OSA, complements its existing sleep disorder portfolio. Moreover, In Oct 2016, Jazz commenced a rolling submission for its second pipeline candidate, Vyxeos, which was completed in early Apr 2017. Jazz’ shares outperformed the industry so far this year. However, Xyrem is facing patent challenges. Jazz has also been facing challenges in building sufficient inventory levels for leukemia drug Erwinaze due to constrained manufacturing capacity and may experience further supply disruptions this year. Estimates have been stable lately ahead of the company’s Q2 earnings release.”
JAZZ has been the subject of a number of other reports. BidaskClub upgraded shares of Jazz Pharmaceuticals PLC from a sell rating to a hold rating in a report on Saturday, June 10th. Cowen and Company reiterated an outperform rating and set a $190.00 target price on shares of Jazz Pharmaceuticals PLC in a report on Wednesday, June 7th. Royal Bank Of Canada set a $210.00 target price on shares of Jazz Pharmaceuticals PLC and gave the stock a buy rating in a report on Tuesday, June 27th. Piper Jaffray Companies restated an overweight rating and issued a $182.00 price objective on shares of Jazz Pharmaceuticals PLC in a report on Wednesday, June 7th. Finally, Cantor Fitzgerald restated a buy rating on shares of Jazz Pharmaceuticals PLC in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $182.72.
Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) traded down 0.66% on Tuesday, reaching $142.71. The company’s stock had a trading volume of 476,916 shares. Jazz Pharmaceuticals PLC has a 12 month low of $95.80 and a 12 month high of $163.75. The stock has a 50 day moving average of $154.90 and a 200-day moving average of $146.69. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 21.98 and a beta of 1.10.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last posted its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.85 by $0.13. The firm had revenue of $394.39 million for the quarter, compared to analysts’ expectations of $410.83 million. Jazz Pharmaceuticals PLC had a return on equity of 22.75% and a net margin of 25.69%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 earnings per share. On average, analysts anticipate that Jazz Pharmaceuticals PLC will post $10.87 EPS for the current year.
In other Jazz Pharmaceuticals PLC news, EVP Michael Patrick Miller sold 200 shares of Jazz Pharmaceuticals PLC stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $152.98, for a total value of $30,596.00. Following the completion of the sale, the executive vice president now owns 22,623 shares of the company’s stock, valued at approximately $3,460,866.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Suzanne Sawochka Hooper sold 420 shares of Jazz Pharmaceuticals PLC stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $160.00, for a total transaction of $67,200.00. The disclosure for this sale can be found here. Insiders have sold 10,600 shares of company stock valued at $1,641,720 in the last three months. 4.30% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Jazz Pharmaceuticals PLC by 3,163.9% in the first quarter. BlackRock Inc. now owns 3,215,159 shares of the specialty pharmaceutical company’s stock worth $466,615,000 after buying an additional 3,116,652 shares during the period. FMR LLC increased its stake in Jazz Pharmaceuticals PLC by 11.4% in the second quarter. FMR LLC now owns 8,290,410 shares of the specialty pharmaceutical company’s stock worth $1,289,159,000 after buying an additional 849,348 shares during the period. Janus Capital Management LLC increased its stake in Jazz Pharmaceuticals PLC by 46.8% in the first quarter. Janus Capital Management LLC now owns 1,470,245 shares of the specialty pharmaceutical company’s stock worth $213,367,000 after buying an additional 468,940 shares during the period. TIAA CREF Investment Management LLC increased its stake in Jazz Pharmaceuticals PLC by 178.2% in the first quarter. TIAA CREF Investment Management LLC now owns 663,548 shares of the specialty pharmaceutical company’s stock worth $96,301,000 after buying an additional 425,042 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Jazz Pharmaceuticals PLC by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 1,405,408 shares of the specialty pharmaceutical company’s stock worth $218,540,000 after buying an additional 410,031 shares during the period. 86.43% of the stock is owned by institutional investors and hedge funds.
About Jazz Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
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