Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Unusually-High Trading Volume on Analyst Upgrade

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) shares saw an uptick in trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,787,968 shares traded hands during trading, an increase of 167% from the previous session’s volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

Other analysts have also issued research reports about the company. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $170.00 in a research report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and set a $179.00 price target on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. TD Cowen dropped their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $175.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price target on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.80.

Insider Activity

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total transaction of $185,145.00. Following the sale, the chief executive officer now directly owns 425,525 shares in the company, valued at approximately $52,522,550.75. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 5,053 shares of company stock worth $617,442. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc bought a new stake in Jazz Pharmaceuticals during the fourth quarter worth $25,000. Quadrant Capital Group LLC lifted its holdings in shares of Jazz Pharmaceuticals by 97.1% during the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Elequin Capital LP boosted its stake in shares of Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock valued at $26,000 after purchasing an additional 183 shares in the last quarter. CoreFirst Bank & Trust bought a new position in Jazz Pharmaceuticals during the 4th quarter worth approximately $28,000. Finally, Allianz SE purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $29,000. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The company has a market cap of $8.72 billion, a PE ratio of 20.36, a PEG ratio of 1.04 and a beta of 0.56. The firm’s 50-day moving average is $125.42 and its 200-day moving average is $118.44.

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.