Jazz Pharmaceuticals (NASDAQ:JAZZ) Upgraded to “Overweight” at Morgan Stanley

Jazz Pharmaceuticals (NASDAQ:JAZZ) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $175.00 target price on the specialty pharmaceutical company’s stock, up from their prior target price of $140.00. Morgan Stanley’s price objective indicates a potential upside of 42.23% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Piper Sandler reissued an “overweight” rating and issued a $163.00 price objective (down from $166.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $140.00 target price on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. Finally, Robert W. Baird increased their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Jazz Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ JAZZ opened at $123.04 on Thursday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.02 and a beta of 0.57. The company’s 50-day simple moving average is $117.39 and its 200-day simple moving average is $112.11. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals has a 52-week low of $99.06 and a 52-week high of $134.17.

Insiders Place Their Bets

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the firm’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Neena M. Patil sold 3,700 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $123.41, for a total value of $456,617.00. Following the completion of the sale, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,753 shares of company stock valued at $816,289 over the last 90 days. 4.20% of the stock is owned by company insiders.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in Jazz Pharmaceuticals in the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Jazz Pharmaceuticals by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock worth $30,000 after purchasing an additional 97 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Jazz Pharmaceuticals during the second quarter worth $33,000. GAMMA Investing LLC increased its holdings in Jazz Pharmaceuticals by 41.3% in 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 last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Jazz Pharmaceuticals by 577.0% in the third quarter. Venturi Wealth Management LLC now owns 826 shares of the specialty pharmaceutical company’s stock valued at $92,000 after buying an additional 704 shares during the last quarter. 89.14% of the stock is currently 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.