Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Cut to $120.00 by Analysts at Wells Fargo & Company

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective lowered by research analysts at Wells Fargo & Company from $140.00 to $120.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty pharmaceutical company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 4.51% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird decreased their price target on Jazz Pharmaceuticals from $160.00 to $154.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays decreased their price target on Jazz Pharmaceuticals from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. UBS Group decreased their price target on Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Needham & Company LLC decreased their price target on Jazz Pharmaceuticals from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.73.

Jazz Pharmaceuticals Price Performance

NASDAQ:JAZZ traded up $4.57 during trading hours on Thursday, reaching $114.82. The company had a trading volume of 699,689 shares, compared to its average volume of 674,198. The stock has a 50-day moving average of $107.47 and a two-hundred day moving average of $114.15. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $7.24 billion, a PE ratio of 23.23, a PEG ratio of 1.73 and a beta of 0.58. Jazz Pharmaceuticals has a one year low of $99.06 and a one year high of $146.70.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.55). The business had revenue of $901.98 million for the quarter, compared to the consensus estimate of $938.99 million. Jazz Pharmaceuticals had a return on equity of 27.86% and a net margin of 8.61%. Analysts forecast that Jazz Pharmaceuticals will post 15.31 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Neena M. Patil sold 5,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.65, for a total transaction of $548,250.00. Following the completion of the transaction, the executive vice president now directly owns 36,629 shares in the company, valued at approximately $4,016,369.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors bought a new stake in Jazz Pharmaceuticals during the 1st quarter worth $171,943,000. Swedbank AB bought a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter valued at about $106,936,000. Vestal Point Capital LP acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $89,175,000. Armistice Capital LLC lifted its stake in shares of Jazz Pharmaceuticals by 108.4% in the 4th quarter. Armistice Capital LLC now owns 651,626 shares of the specialty pharmaceutical company’s stock valued at $80,150,000 after purchasing an additional 338,882 shares during the period. Finally, Perpetual Ltd lifted its stake in shares of Jazz Pharmaceuticals by 54.0% in the 1st quarter. Perpetual Ltd now owns 475,018 shares of the specialty pharmaceutical company’s stock valued at $57,202,000 after purchasing an additional 166,543 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

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.