Royal Bank of Canada Cuts Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $178.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price cut by stock analysts at Royal Bank of Canada from $179.00 to $178.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 20.88% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on JAZZ. Robert W. Baird increased their price target on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $140.00 to $175.00 in a research report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $180.93.

Jazz Pharmaceuticals Price Performance

NASDAQ JAZZ traded up $7.58 during mid-day trading on Wednesday, hitting $147.25. The stock had a trading volume of 1,017,844 shares, compared to its average volume of 647,652. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $146.97. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The firm’s 50 day moving average is $125.42 and its 200 day moving average is $118.44.

Insider Activity at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $121.17, for a total value of $242,340.00. Following the completion of the transaction, the chief executive officer now owns 427,025 shares of the company’s stock, valued at $51,742,619.25. The trade was a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 5,053 shares of company stock worth $617,442. 4.20% of the stock is owned by insiders.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its stake in Jazz Pharmaceuticals by 493.3% in the fourth quarter. Mackenzie Financial Corp now owns 20,286 shares of the specialty pharmaceutical company’s stock valued at $2,498,000 after acquiring an additional 16,867 shares in the last quarter. Forum Financial Management LP bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $245,000. GF Fund Management CO. LTD. bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth approximately $156,000. MidWestOne Financial Group Inc. raised its stake in Jazz Pharmaceuticals by 10.4% during the fourth quarter. MidWestOne Financial Group Inc. now owns 24,347 shares of the specialty pharmaceutical company’s stock worth $2,998,000 after acquiring an additional 2,284 shares in the last quarter. Finally, Elequin Capital LP grew its stake in shares of Jazz Pharmaceuticals by 677.8% during the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after purchasing an additional 183 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.