Jazz Pharmaceuticals (NASDAQ:JAZZ) Sees Strong Trading Volume After Analyst Upgrade

Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Get Free Report) saw strong trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $200.00 to $209.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 1,787,968 shares changed hands during mid-day trading, an increase of 167% from the previous session's volume of 669,349 shares.The stock last traded at $144.26 and had previously closed at $139.67.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $179.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. Needham & Company LLC raised their price objective on shares of Jazz Pharmaceuticals from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and issued a $163.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, December 12th. Morgan Stanley raised Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $140.00 to $175.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company raised Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $182.47.

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Insiders Place Their Bets

In related news, CEO Bruce C. Cozadd sold 2,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $121.17, for a total value of $242,340.00. Following the completion of the transaction, the chief executive officer now directly owns 427,025 shares of the company's stock, valued at approximately $51,742,619.25. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 5,053 shares of company stock valued at $617,442 in the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Jazz Pharmaceuticals by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company's stock worth $3,317,000 after buying an additional 92 shares during the last quarter. CIBC Asset Management Inc increased its stake in 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 acquiring an additional 97 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Jazz Pharmaceuticals by 0.5% in the 4th quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company's stock valued at $2,365,000 after purchasing an additional 100 shares during the last quarter. Quarry LP boosted its holdings in shares of Jazz Pharmaceuticals by 6.3% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock worth $209,000 after purchasing an additional 100 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Jazz Pharmaceuticals by 97.1% during the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Up 0.2 %

The company has a market cap of $8.68 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The company has a fifty day moving average of $126.69 and a two-hundred day moving average of $119.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

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.