Morgan Stanley Reiterates “Overweight” Rating for Jazz Pharmaceuticals (NASDAQ:JAZZ)

Jazz Pharmaceuticals (NASDAQ:JAZZ)‘s stock had its “overweight” rating reissued by research analysts at Morgan Stanley in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $183.00 price target on the specialty pharmaceutical company’s stock, up from their prior price target of $175.00. Morgan Stanley’s price target indicates a potential upside of 31.83% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Barclays reissued an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Robert W. Baird raised their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Finally, Royal Bank of Canada cut their target price on Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $189.40.

Jazz Pharmaceuticals Stock Up 1.7 %

NASDAQ JAZZ opened at $138.81 on Friday. 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 stock has a market capitalization of $8.43 billion, a PE ratio of 19.55, a PEG ratio of 1.04 and a beta of 0.44. Jazz Pharmaceuticals has a 1 year low of $99.06 and a 1 year high of $148.06. The business’s 50-day moving average is $128.14 and its 200 day moving average is $120.03.

Insider Activity

In other news, EVP Neena M. Patil sold 3,800 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total transaction of $550,506.00. Following the completion of the transaction, the executive vice president now directly owns 33,318 shares in the company, valued at approximately $4,826,778.66. This trade represents a 10.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.31, for a total transaction of $183,465.00. Following the transaction, the chief executive officer now owns 439,744 shares of the company’s stock, valued at $53,785,088.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,193 shares of company stock worth $3,533,122. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Jazz Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in JAZZ. IFP Advisors Inc purchased a new position in Jazz Pharmaceuticals in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC raised its holdings in Jazz Pharmaceuticals by 97.1% in the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Elequin Capital LP raised its holdings in Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after acquiring an additional 183 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in Jazz Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Allianz SE purchased a new position in Jazz Pharmaceuticals in the 4th quarter worth approximately $29,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

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.