Needham & Company LLC Lowers Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $210.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price dropped by analysts at Needham & Company LLC from $222.00 to $210.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price target suggests a potential upside of 94.77% from the stock’s previous close.

JAZZ has been the topic of a number of other research reports. StockNews.com cut Jazz Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Friday, May 3rd. Truist Financial restated a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 20th. UBS Group lowered their price target on Jazz Pharmaceuticals from $135.00 to $131.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Finally, Barclays lowered their price target on Jazz Pharmaceuticals from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Jazz Pharmaceuticals Stock Down 4.3 %

NASDAQ:JAZZ traded down $4.86 during mid-day trading on Thursday, reaching $107.82. The stock had a trading volume of 621,052 shares, compared to its average volume of 680,121. The business’s 50 day moving average is $109.25 and its 200 day moving average is $117.39. Jazz Pharmaceuticals has a fifty-two week low of $103.01 and a fifty-two week high of $146.70. The stock has a market cap of $6.80 billion, a P/E ratio of 22.23, a PEG ratio of 1.73 and a beta of 0.62. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.27 and a quick ratio of 1.90.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.55). The business had revenue of $901.98 million during the quarter, compared to the consensus estimate of $938.99 million. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. As a group, sell-side analysts predict that Jazz Pharmaceuticals will post 15.35 earnings per share for the current year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 5,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.65, for a total value of $548,250.00. Following the completion of the sale, the executive vice president now directly owns 36,629 shares in the company, valued at $4,016,369.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JAZZ. Janney Montgomery Scott LLC purchased a new position in shares of Jazz Pharmaceuticals during the third quarter valued at approximately $952,000. Pathstone Family Office LLC purchased a new position in Jazz Pharmaceuticals in the third quarter worth $211,000. HighTower Advisors LLC boosted its position in Jazz Pharmaceuticals by 26.6% in the third quarter. HighTower Advisors LLC now owns 5,332 shares of the specialty pharmaceutical company’s stock worth $696,000 after purchasing an additional 1,120 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Jazz Pharmaceuticals by 6.7% in the third quarter. Rafferty Asset Management LLC now owns 2,697 shares of the specialty pharmaceutical company’s stock worth $349,000 after purchasing an additional 170 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Jazz Pharmaceuticals in the third quarter worth $290,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

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.