Jazz Pharmaceuticals (NASDAQ:JAZZ) Price Target Cut to $210.00 by Analysts at Needham & Company LLC

Jazz Pharmaceuticals (NASDAQ:JAZZ - Free Report) had its price objective trimmed by Needham & Company LLC from $222.00 to $210.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the specialty pharmaceutical company's stock.

JAZZ has been the subject of a number of other reports. Piper Sandler increased their target price on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Barclays cut their price objective on Jazz Pharmaceuticals from $230.00 to $200.00 and set an overweight rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Jazz Pharmaceuticals from $170.00 to $190.00 and gave the company an overweight rating in a research note on Friday, March 22nd. The Goldman Sachs Group assumed coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 5th. They set a buy rating and a $169.00 target price for the company. Finally, UBS Group cut their price target on shares of Jazz Pharmaceuticals from $135.00 to $131.00 and set a neutral rating for the company in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $190.00.

Jazz Pharmaceuticals Stock Performance

JAZZ traded down $5.32 during trading on Thursday, reaching $107.36. 1,561,847 shares of the company's stock were exchanged, compared to its average volume of 688,094. Jazz Pharmaceuticals has a fifty-two week low of $103.01 and a fifty-two week high of $146.70. The company has a market capitalization of $6.77 billion, a P/E ratio of 22.23, a PEG ratio of 1.73 and a beta of 0.62. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average price of $109.25 and a 200 day moving average price of $117.39.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its earnings results on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.55). Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. The business had revenue of $901.98 million for the quarter, compared to analyst estimates of $938.99 million. As a group, analysts predict that Jazz Pharmaceuticals will post 15.35 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Neena M. Patil sold 5,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.65, for a total transaction of $548,250.00. Following the completion of the sale, the executive vice president now owns 36,629 shares in the company, valued at approximately $4,016,369.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC lifted its stake in Jazz Pharmaceuticals by 2,255.6% in the first quarter. Rise Advisors LLC now owns 212 shares of the specialty pharmaceutical company's stock valued at $26,000 after buying an additional 203 shares during the period. Cape Investment Advisory Inc. raised its position in shares of Jazz Pharmaceuticals by 14,600.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company's stock valued at $36,000 after acquiring an additional 292 shares during the period. Covestor Ltd boosted its stake in Jazz Pharmaceuticals by 676.5% during the 3rd quarter. Covestor Ltd now owns 396 shares of the specialty pharmaceutical company's stock worth $51,000 after acquiring an additional 345 shares during the last quarter. Headinvest LLC acquired a new position in Jazz Pharmaceuticals during the third quarter valued at approximately $56,000. Finally, Assetmark Inc. increased its stake in Jazz Pharmaceuticals by 37.1% in the fourth quarter. Assetmark Inc. now owns 440 shares of the specialty pharmaceutical company's stock valued at $54,000 after purchasing an additional 119 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors.

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.