Jazz Pharmaceuticals (NASDAQ:JAZZ) Given New $178.00 Price Target at Royal Bank of Canada

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target decreased by Royal Bank of Canada from $179.00 to $178.00 in a research report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty pharmaceutical company’s stock.

JAZZ has been the subject of several other reports. Robert W. Baird lifted 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. TD Cowen dropped their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $170.00 in a report on Thursday, February 13th. Finally, Needham & Company LLC lifted their price target on Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ opened at $144.17 on Wednesday. The stock has a market cap of $8.72 billion, a P/E ratio of 20.31, a PEG ratio of 1.04 and a beta of 0.56. The stock has a 50 day simple moving average of $125.42 and a 200 day simple moving average of $118.44. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals has a 1-year low of $99.06 and a 1-year high of $148.06.

Insider Activity

In other news, CEO Bruce C. Cozadd sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total value of $242,340.00. Following the transaction, the chief executive officer now owns 427,025 shares in the company, valued at approximately $51,742,619.25. This trade represents a 0.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 5,053 shares of company stock worth $617,442. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of JAZZ. Fuller & Thaler Asset Management Inc. increased its stake in shares of Jazz Pharmaceuticals by 117.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 939,351 shares of the specialty pharmaceutical company’s stock valued at $115,681,000 after purchasing an additional 507,234 shares during the last quarter. Darwin Global Management Ltd. bought a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $59,668,000. Dimensional Fund Advisors LP increased its stake in shares of Jazz Pharmaceuticals by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock valued at $250,619,000 after purchasing an additional 320,724 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Jazz Pharmaceuticals by 20.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock valued at $225,076,000 after purchasing an additional 315,608 shares during the last quarter. Finally, GMT Capital Corp grew its position in Jazz Pharmaceuticals by 140.0% during the 4th quarter. GMT Capital Corp now owns 508,800 shares of the specialty pharmaceutical company’s stock worth $62,659,000 after acquiring an additional 296,800 shares during the last quarter. 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.