Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $120.00 Price Target at Wells Fargo & Company

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target lowered by Wells Fargo & Company from $140.00 to $120.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the specialty pharmaceutical company’s stock.

Several other brokerages have also commented on JAZZ. Morgan Stanley cut their price target on Jazz Pharmaceuticals from $160.00 to $150.00 and set an equal weight rating on the stock in a research note on Friday, July 12th. Robert W. Baird lowered their price target on Jazz Pharmaceuticals from $160.00 to $154.00 and set an outperform rating for the company in a report on Thursday. The Goldman Sachs Group initiated coverage on Jazz Pharmaceuticals in a report on Wednesday, June 5th. They issued a buy rating and a $169.00 price target for the company. Barclays lowered their price target on Jazz Pharmaceuticals from $230.00 to $200.00 and set an overweight rating for the company in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a buy rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $175.20.

Jazz Pharmaceuticals Price Performance

JAZZ traded down $1.15 during trading on Thursday, reaching $112.11. 352,530 shares of the company traded hands, compared to its average volume of 684,108. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.90 and a current ratio of 2.37. The company has a market cap of $7.07 billion, a P/E ratio of 19.65, a PEG ratio of 1.76 and a beta of 0.58. Jazz Pharmaceuticals has a 12-month low of $99.06 and a 12-month high of $146.70. The firm has a fifty day simple moving average of $107.82 and a 200 day simple moving average of $114.05.

Institutional Trading of Jazz Pharmaceuticals

Large investors have recently made changes to their positions in the company. State of Michigan Retirement System increased its position in shares of Jazz Pharmaceuticals by 1.2% during the fourth quarter. State of Michigan Retirement System now owns 17,364 shares of the specialty pharmaceutical company’s stock worth $2,136,000 after purchasing an additional 200 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Jazz Pharmaceuticals by 347.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,280 shares of the specialty pharmaceutical company’s stock worth $895,000 after buying an additional 5,654 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth $7,201,000. Prime Capital Investment Advisors LLC boosted its stake in Jazz Pharmaceuticals by 4.3% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,646 shares of the specialty pharmaceutical company’s stock worth $325,000 after buying an additional 108 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Jazz Pharmaceuticals by 94.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 91,540 shares of the specialty pharmaceutical company’s stock worth $11,210,000 after buying an additional 44,414 shares during the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

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.