HC Wainwright Reaffirms “Hold” Rating for Jazz Pharmaceuticals (JAZZ)

HC Wainwright reiterated their hold rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report released on Thursday morning. They currently have a $167.00 price objective on the specialty pharmaceutical company’s stock.

“We highlighted after 1Q that management seemed to be taking a decidedly conservative approach to guidance this year, and this quarter we again see a healthy beat with little or no full-year raise. We still think guidance is a bit conservative (we’re near the high end on REV and EPS), but besides a small revenue drag from the sale of Prialt, unfortunately there was a key underperformer holding Jazz guidance back: Vyxeos. Jazz’s newest growth driver, from its most recent acquisition, only grew modestly QoQ, missed consensus for the second straight quarter, and Jazz lowered the product’s 2018 guidance 12% at the midpoint to $115-135M.”,” the firm’s analyst wrote.

JAZZ has been the subject of several other research reports. ValuEngine cut Jazz Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, May 2nd. Evercore ISI reissued a buy rating on shares of Jazz Pharmaceuticals in a report on Friday, July 13th. Stifel Nicolaus boosted their price objective on Jazz Pharmaceuticals from $180.00 to $205.00 and gave the company a buy rating in a report on Wednesday, August 8th. Zacks Investment Research raised Jazz Pharmaceuticals from a hold rating to a buy rating and set a $189.00 price objective for the company in a report on Thursday, May 31st. Finally, BidaskClub upgraded Jazz Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $188.67.

Shares of Jazz Pharmaceuticals opened at $177.37 on Thursday, MarketBeat reports. The stock has a market capitalization of $10.64 billion, a PE ratio of 18.55, a P/E/G ratio of 0.96 and a beta of 0.90. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.54. Jazz Pharmaceuticals has a 52-week low of $128.58 and a 52-week high of $184.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Tuesday, August 7th. The specialty pharmaceutical company reported $3.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.23 by $0.26. The business had revenue of $500.48 million during the quarter, compared to analysts’ expectations of $469.85 million. Jazz Pharmaceuticals had a return on equity of 25.47% and a net margin of 24.20%. equities research analysts expect that Jazz Pharmaceuticals will post 11.64 earnings per share for the current fiscal year.

In related news, CFO Matthew P. Young sold 1,420 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $164.64, for a total value of $233,788.80. Following the completion of the transaction, the chief financial officer now owns 37,623 shares in the company, valued at approximately $6,194,250.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Patrick Miller sold 200 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $176.53, for a total value of $35,306.00. Following the sale, the executive vice president now owns 25,972 shares of the company’s stock, valued at $4,584,837.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,420 shares of company stock valued at $3,135,816. 3.90% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of JAZZ. Daiwa Securities Group Inc. increased its stake in Jazz Pharmaceuticals by 22.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,331 shares of the specialty pharmaceutical company’s stock worth $352,000 after buying an additional 431 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Jazz Pharmaceuticals during the 1st quarter worth approximately $1,178,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Jazz Pharmaceuticals by 5.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,166 shares of the specialty pharmaceutical company’s stock worth $26,448,000 after buying an additional 9,689 shares in the last quarter. Brighton Jones LLC purchased a new stake in Jazz Pharmaceuticals during the 1st quarter worth approximately $205,000. Finally, Virginia Retirement Systems ET AL increased its stake in Jazz Pharmaceuticals by 16.8% during the 1st quarter. Virginia Retirement Systems ET AL now owns 143,100 shares of the specialty pharmaceutical company’s stock worth $21,607,000 after buying an additional 20,600 shares in the last quarter. Institutional investors own 90.44% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.

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Analyst Recommendations for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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