Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $170.00 Price Target at Royal Bank of Canada

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price objective boosted by Royal Bank of Canada from $160.00 to $170.00 in a research note issued to investors on Monday morning, The Fly reports.

JAZZ has been the subject of several other research reports. TheStreet raised Jazz Pharmaceuticals from a c+ rating to a b rating in a report on Thursday, August 20th. JPMorgan Chase & Co. assumed coverage on Jazz Pharmaceuticals in a report on Monday. They issued an overweight rating and a $175.00 price target for the company. Goldman Sachs Group cut Jazz Pharmaceuticals from a neutral rating to a sell rating and set a $128.00 price target for the company. in a report on Monday. Morgan Stanley raised Jazz Pharmaceuticals from an equal weight rating to an overweight rating and set a $177.00 price target for the company in a report on Thursday, August 6th. They noted that the move was a valuation call. Finally, SVB Leerink increased their price target on Jazz Pharmaceuticals from $160.00 to $169.00 and gave the company an outperform rating in a report on Monday, June 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the stock. Jazz Pharmaceuticals currently has an average rating of Buy and an average target price of $161.81.

NASDAQ JAZZ opened at $144.13 on Monday. The company has a market cap of $7.99 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. The stock’s 50 day simple moving average is $126.56 and its 200-day simple moving average is $113.84. Jazz Pharmaceuticals has a 1-year low of $86.88 and a 1-year high of $154.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 5.62 and a quick ratio of 5.39.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, August 4th. The specialty pharmaceutical company reported $3.71 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.60. Jazz Pharmaceuticals had a return on equity of 20.47% and a net margin of 6.01%. The business had revenue of $562.44 million for the quarter, compared to the consensus estimate of $503.19 million. During the same quarter last year, the business posted $4.05 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Jazz Pharmaceuticals will post 11.08 EPS for the current fiscal year.

In other news, CEO Bruce C. Cozadd sold 500 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $134.90, for a total transaction of $67,450.00. Following the completion of the transaction, the chief executive officer now directly owns 336,680 shares in the company, valued at $45,418,132. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 3,863 shares of company stock valued at $503,644. Company insiders own 4.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Jazz Pharmaceuticals by 19.7% during the first quarter. AQR Capital Management LLC now owns 2,353,827 shares of the specialty pharmaceutical company’s stock worth $234,771,000 after buying an additional 387,575 shares in the last quarter. LSV Asset Management grew its holdings in Jazz Pharmaceuticals by 19.5% during the 2nd quarter. LSV Asset Management now owns 2,225,431 shares of the specialty pharmaceutical company’s stock worth $245,554,000 after acquiring an additional 363,015 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Jazz Pharmaceuticals during the 2nd quarter worth $36,250,000. Point72 Asset Management L.P. grew its holdings in Jazz Pharmaceuticals by 1,424.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 346,139 shares of the specialty pharmaceutical company’s stock worth $38,193,000 after acquiring an additional 323,439 shares in the last quarter. Finally, Sarissa Capital Management LP grew its holdings in Jazz Pharmaceuticals by 72.5% during the 1st quarter. Sarissa Capital Management LP now owns 765,000 shares of the specialty pharmaceutical company’s stock worth $76,301,000 after acquiring an additional 321,500 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

About Jazz Pharmaceuticals

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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