Royal Bank of Canada Has Lowered Expectations for Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price

Jazz Pharmaceuticals (NASDAQ:JAZZ) had its price target reduced by analysts at Royal Bank of Canada from $179.00 to $178.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 24.24% from the company’s current price.

JAZZ has been the subject of a number of other research reports. TD Cowen reduced their price objective 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 restated a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $163.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $170.00 in a report on Thursday, February 13th. Finally, Needham & Company LLC upped their price target on shares of Jazz Pharmaceuticals from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $182.47.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ opened at $143.27 on Wednesday. The company’s 50-day moving average is $125.87 and its 200-day moving average is $118.62. 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 has a market capitalization of $8.66 billion, a PE ratio of 20.18, a PEG ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals has a fifty-two week low of $99.06 and a fifty-two week high of $148.06.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction dated 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 $51,742,619.25. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JAZZ. Bessemer Group Inc. grew its holdings in shares of Jazz Pharmaceuticals by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company’s stock valued at $3,317,000 after purchasing an additional 92 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Jazz Pharmaceuticals by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock worth $243,000 after buying an additional 97 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Jazz Pharmaceuticals by 0.5% during the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company’s stock worth $2,365,000 after buying an additional 100 shares in the last quarter. Quarry LP increased its holdings in shares of Jazz Pharmaceuticals by 6.3% during the fourth quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company’s stock worth $209,000 after buying an additional 100 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Jazz Pharmaceuticals by 97.1% in the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.

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.