HC Wainwright reissued their hold rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a research report sent to investors on Friday morning, AnalystRatings.com reports. The brokerage currently has a $153.00 price objective on the specialty pharmaceutical company’s stock.
“We’ve long highlighted how conservative EPS guidance has been since JAZZ missed analyst estimates repeatedly through 2016-17, and it’s worked, with five straight beats of increasing magnitude. Jazz didn’t raise despite the 1Q beat, but our 2019 EPS is now at $15.21 vs. guidance of $14.30-15.00. Our view that the Street won’t give much credit for Xyrem- driven beats given lack of clarity beyond 2022 is largely unchanged for now. Further, recent quarterly beats have included outliers, like an abnormally low tax-rate in 3Q-4Q18, or large Erwinaze upside this quarter (presumably a one-off), or head-scratchers like the surprisingly strong Xyrem this quarter. Xyrem sales of $368M easily beat consensus by $14M, but the 5% YoY volume growth and 7% price hike would have yielded an approximately in-line $356M number.”,” the firm’s analyst wrote.
JAZZ has been the subject of a number of other research reports. BMO Capital Markets increased their target price on shares of Jazz Pharmaceuticals from $199.00 to $206.00 and gave the company an outperform rating in a research report on Wednesday, February 27th. Wells Fargo & Co set a $162.00 target price on shares of Jazz Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, March 19th. SunTrust Banks assumed coverage on Jazz Pharmaceuticals in a report on Tuesday, March 19th. They set a buy rating and a $163.00 price target on the stock. Mizuho restated a hold rating and set a $147.00 price target (up from $137.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, March 27th. Finally, Cowen restated a buy rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $182.41.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.44. The business had revenue of $508.19 million during the quarter, compared to the consensus estimate of $466.55 million. Jazz Pharmaceuticals had a net margin of 24.88% and a return on equity of 27.35%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.98 EPS. On average, sell-side analysts expect that Jazz Pharmaceuticals will post 13.28 EPS for the current year.
In other Jazz Pharmaceuticals news, CFO Matthew P. Young sold 1,152 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $135.41, for a total transaction of $155,992.32. Following the transaction, the chief financial officer now directly owns 38,700 shares in the company, valued at approximately $5,240,367. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Suzanne Sawochka Hooper sold 6,666 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $140.00, for a total value of $933,240.00. Following the transaction, the executive vice president now owns 40,401 shares in the company, valued at $5,656,140. The disclosure for this sale can be found here. Insiders have sold a total of 11,668 shares of company stock worth $1,606,567 over the last 90 days. Company insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 65.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 371,182 shares of the specialty pharmaceutical company’s stock worth $46,011,000 after purchasing an additional 147,419 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Jazz Pharmaceuticals by 120.6% in the 4th quarter. Millennium Management LLC now owns 252,406 shares of the specialty pharmaceutical company’s stock worth $31,288,000 after purchasing an additional 138,007 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Jazz Pharmaceuticals by 6.1% in the 4th quarter. Bank of Montreal Can now owns 104,761 shares of the specialty pharmaceutical company’s stock worth $12,986,000 after purchasing an additional 6,034 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Jazz Pharmaceuticals by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,912,173 shares of the specialty pharmaceutical company’s stock worth $321,494,000 after purchasing an additional 56,291 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Jazz Pharmaceuticals by 1.0% in the 4th quarter. Comerica Bank now owns 12,103 shares of the specialty pharmaceutical company’s stock worth $1,512,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.
Jazz Pharmaceuticals Company Profile
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.
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