Jazz Pharmaceuticals (NASDAQ:JAZZ) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) from an equal weight rating to an overweight rating in a research note published on Thursday morning, Marketbeat reports. Wells Fargo & Company currently has $170.00 target price on the specialty pharmaceutical company’s stock, up from their previous target price of $130.00.

Several other equities analysts also recently commented on JAZZ. Piper Sandler reissued an “overweight” rating and set a $163.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $207.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, December 12th. Morgan Stanley upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $175.00 in a report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $179.00 price target on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $180.33.

Jazz Pharmaceuticals Stock Performance

JAZZ stock opened at $136.82 on Thursday. The firm has a 50 day moving average of $122.97 and a two-hundred day moving average of $116.89. Jazz Pharmaceuticals has a 12 month low of $99.06 and a 12 month high of $138.27. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 0.92 and a beta of 0.56. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Insiders Place Their Bets

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total value of $185,145.00. Following the completion of the transaction, the chief executive officer now directly owns 425,525 shares in the company, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 5,053 shares of company stock worth $617,442. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Jazz Pharmaceuticals by 15.3% in the third quarter. Pacer Advisors Inc. now owns 2,099,378 shares of the specialty pharmaceutical company’s stock valued at $233,892,000 after acquiring an additional 278,465 shares during the period. Cinctive Capital Management LP bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at approximately $14,277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Jazz Pharmaceuticals by 135.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company’s stock worth $19,394,000 after buying an additional 100,112 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Jazz Pharmaceuticals by 26.6% in the 4th quarter. GW&K Investment Management LLC now owns 464,003 shares of the specialty pharmaceutical company’s stock worth $57,142,000 after buying an additional 97,589 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Jazz Pharmaceuticals by 501.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,055 shares of the specialty pharmaceutical company’s stock worth $13,800,000 after buying an additional 93,422 shares during the period. Institutional investors and hedge funds 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.