Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Tuesday. They presently have a $201.00 price target on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 35.17% from the stock’s current price.
The analysts wrote, “: We reiterate our Overweight rating and we are lowering our PT by $2 to $201 for JAZZ stock. We continue to believe management has positioned the company well for a solid financial performance in a post-Xyrem” world through innovation and diversification. We believe NT stock performance will be driven by potential FDA approval of solriamfetol and JZP-258 data in narcolepsy.””
Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Jazz Pharmaceuticals from $162.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Wells Fargo & Co reaffirmed a “buy” rating and set a $195.00 price objective (up previously from $182.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, August 15th. Stifel Nicolaus raised their price objective on shares of Jazz Pharmaceuticals from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $213.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, August 8th. Finally, BidaskClub raised shares of Jazz Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. Jazz Pharmaceuticals currently has an average rating of “Buy” and an average price target of $191.76.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, November 6th. The specialty pharmaceutical company reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.26. The business had revenue of $469.37 million during the quarter, compared to the consensus estimate of $482.64 million. Jazz Pharmaceuticals had a net margin of 24.20% and a return on equity of 25.47%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.22 EPS. Research analysts predict that Jazz Pharmaceuticals will post 11.71 EPS for the current year.
In related news, CFO Matthew P. Young sold 700 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $158.08, for a total value of $110,656.00. Following the transaction, the chief financial officer now directly owns 32,768 shares in the company, valued at approximately $5,179,965.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rick E. Winningham sold 16,639 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $176.18, for a total value of $2,931,459.02. Following the completion of the transaction, the director now owns 15,594 shares in the company, valued at $2,747,350.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,678 shares of company stock worth $5,959,173. 3.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. bought a new position in shares of Jazz Pharmaceuticals in the 3rd quarter worth $106,000. Tiverton Asset Management LLC bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth $198,000. Moloney Securities Asset Management LLC bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth $204,000. FDx Advisors Inc. bought a new position in Jazz Pharmaceuticals during the 2nd quarter valued at $244,000. Finally, Cadence Capital Management LLC bought a new position in Jazz Pharmaceuticals during the 3rd quarter valued at $263,000. Institutional investors own 92.95% of the company’s stock.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various 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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