Royal Bank of Canada Cuts Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target to $174.00

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its target price cut by Royal Bank of Canada from $175.00 to $174.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the specialty pharmaceutical company’s stock.

Several other analysts have also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Jazz Pharmaceuticals from $160.00 to $154.00 and set an outperform rating on the stock in a research report on Thursday. StockNews.com cut shares of Jazz Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Friday, July 5th. Wells Fargo & Company reduced their price target on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an equal weight rating on the stock in a research report on Thursday. Needham & Company LLC reduced their price target on shares of Jazz Pharmaceuticals from $208.00 to $205.00 and set a buy rating on the stock in a research report on Thursday. Finally, UBS Group reduced their price target on shares of Jazz Pharmaceuticals from $117.00 to $113.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $175.20.

Jazz Pharmaceuticals Trading Down 1.0 %

JAZZ traded down $1.12 on Thursday, hitting $113.26. The company had a trading volume of 716,259 shares, compared to its average volume of 655,591. The firm has a market cap of $7.14 billion, a P/E ratio of 23.35, a PEG ratio of 1.76 and a beta of 0.58. Jazz Pharmaceuticals has a 1 year low of $99.06 and a 1 year high of $146.70. The company’s fifty day moving average price is $107.82 and its 200 day moving average price is $114.08. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 1.36.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.55). The business had revenue of $901.98 million for the quarter, compared to analyst estimates of $938.99 million. Jazz Pharmaceuticals had a return on equity of 28.65% and a net margin of 10.10%. As a group, equities analysts expect that Jazz Pharmaceuticals will post 15.31 earnings per share for the current year.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Jazz Pharmaceuticals by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,448,689 shares of the specialty pharmaceutical company’s stock valued at $776,551,000 after purchasing an additional 84,941 shares during the last quarter. LSV Asset Management grew its position in shares of Jazz Pharmaceuticals by 1.6% during the first quarter. LSV Asset Management now owns 2,380,858 shares of the specialty pharmaceutical company’s stock worth $286,703,000 after acquiring an additional 37,631 shares during the last quarter. Polaris Capital Management LLC grew its position in shares of Jazz Pharmaceuticals by 13.0% during the first quarter. Polaris Capital Management LLC now owns 1,432,660 shares of the specialty pharmaceutical company’s stock worth $172,521,000 after acquiring an additional 165,200 shares during the last quarter. Capital World Investors purchased a new position in shares of Jazz Pharmaceuticals during the first quarter worth approximately $171,943,000. Finally, Swedbank AB purchased a new position in shares of Jazz Pharmaceuticals during the second quarter worth approximately $106,936,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

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.