Jazz Pharmaceuticals (NASDAQ:JAZZ) Cut to “Hold” at Zacks Investment Research

Jazz Pharmaceuticals (NASDAQ:JAZZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports. They presently have a $138.00 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 4.56% from the stock’s current price.

According to Zacks, “Jazz’s key drug, Xyrem, continues to witness improved volume trends in 2019 on the back of awareness efforts. The label expansion of Xyrem in pediatric patients has improved the top line further. Management expects Xyrem's volume growth to continue in the second half. Sunosi's launch in July 2019 complements the sleep franchise and its successful commercialization may offset a decline in Xyrem’s sales following patent expiry in 2023. Jazz’s leukemia drug, Vyxeos, has also witnessed strong growth so far in 2019. Its launch in Europe boosted sales in 2019. However, Jazz has been facing supply crunch for its leukemia drug, Erwinaze, owing to constrained manufacturing capacity, which is likely to continue in second half. Defitelio sales also vary every quarter.”

A number of other research firms have also weighed in on JAZZ. TheStreet raised shares of Jazz Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Wednesday, July 24th. Mizuho set a $148.00 target price on shares of Jazz Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. BidaskClub lowered shares of Jazz Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Barclays lifted their price target on shares of Jazz Pharmaceuticals from $164.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer set a $176.00 price target on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Jazz Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $168.43.



JAZZ traded up $0.53 during trading on Friday, reaching $131.98. The company’s stock had a trading volume of 12,279 shares, compared to its average volume of 475,030. The company has a quick ratio of 3.52, a current ratio of 3.71 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $133.13 and a two-hundred day simple moving average of $134.80. Jazz Pharmaceuticals has a 1 year low of $113.52 and a 1 year high of $169.82. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.05 and a beta of 1.10.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $3.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.16 by $0.49. Jazz Pharmaceuticals had a net margin of 32.99% and a return on equity of 27.72%. The business had revenue of $534.13 million for the quarter, compared to analyst estimates of $507.23 million. During the same period last year, the company posted $3.49 EPS. The business’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that Jazz Pharmaceuticals will post 13.44 EPS for the current fiscal year.

In related news, Director Catherine A. Sohn sold 726 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $135.65, for a total value of $98,481.90. Following the completion of the sale, the director now owns 9,574 shares in the company, valued at approximately $1,298,713.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Treacy sold 4,371 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $137.40, for a total transaction of $600,575.40. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in shares of Jazz Pharmaceuticals by 4.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,439 shares of the specialty pharmaceutical company’s stock worth $10,498,000 after acquiring an additional 2,974 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Jazz Pharmaceuticals by 3.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 5,534 shares of the specialty pharmaceutical company’s stock worth $791,000 after acquiring an additional 196 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Jazz Pharmaceuticals in the first quarter worth $218,000. First Allied Advisory Services Inc. grew its stake in shares of Jazz Pharmaceuticals by 17.1% in the first quarter. First Allied Advisory Services Inc. now owns 3,562 shares of the specialty pharmaceutical company’s stock worth $510,000 after acquiring an additional 520 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its stake in shares of Jazz Pharmaceuticals by 0.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 32,944 shares of the specialty pharmaceutical company’s stock worth $4,709,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 87.83% 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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