Royal Bank of Canada Reiterates Outperform Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Royal Bank of Canada reiterated their outperform rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $179.00 target price on the specialty pharmaceutical company’s stock.

A number of other equities analysts have also commented on the stock. HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. TD Cowen cut their price objective on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $207.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $140.00 price target on shares of Jazz Pharmaceuticals in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Jazz Pharmaceuticals Stock Up 2.4 %

Shares of NASDAQ:JAZZ opened at $123.60 on Tuesday. The company’s fifty day moving average is $117.11 and its 200-day moving average is $111.99. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. Jazz Pharmaceuticals has a 52 week low of $99.06 and a 52 week high of $134.17. The company has a market capitalization of $7.47 billion, a PE ratio of 17.41, a P/E/G ratio of 1.04 and a beta of 0.57.

Insider Activity at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the completion of the sale, the chief executive officer now owns 428,976 shares in the company, valued at approximately $47,547,699.84. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Neena M. Patil sold 3,700 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $123.41, for a total value of $456,617.00. Following the transaction, the executive vice president now owns 33,048 shares in the company, valued at approximately $4,078,453.68. This trade represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,753 shares of company stock worth $816,289 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JAZZ. Swedbank AB bought a new position in shares of Jazz Pharmaceuticals during the second quarter worth $106,936,000. Rubric Capital Management LP bought a new position in Jazz Pharmaceuticals during the second quarter worth about $65,812,000. Pacer Advisors Inc. lifted its holdings in Jazz Pharmaceuticals by 40.7% during the second quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock worth $194,346,000 after acquiring an additional 527,187 shares in the last quarter. Baupost Group LLC MA grew its stake in Jazz Pharmaceuticals by 52.8% in the second quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock valued at $136,000,000 after acquiring an additional 440,552 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Jazz Pharmaceuticals by 1,808.4% in the second quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company’s stock worth $48,122,000 after acquiring an additional 427,246 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.