Jazz Pharmaceuticals’ (JAZZ) “Hold” Rating Reiterated at HC Wainwright
HC Wainwright reiterated their hold rating on shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) in a report published on Thursday morning. The brokerage currently has a $167.00 target price 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 commented.
A number of other equities analysts have also recently commented on JAZZ. Stifel Nicolaus raised their target price on Jazz Pharmaceuticals from $180.00 to $205.00 and gave the stock a buy rating in a report on Wednesday. Cantor Fitzgerald set a $203.00 target price on Jazz Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, August 7th. BidaskClub cut Jazz Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, June 28th. BMO Capital Markets raised their target price on Jazz Pharmaceuticals from $201.00 to $206.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Seaport Global Securities reaffirmed a buy rating and issued a $207.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday. One investment 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 stock currently has an average rating of Buy and a consensus price target of $188.67.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.26. The firm had revenue of $500.48 million for 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 anticipate that Jazz Pharmaceuticals will post 11.64 EPS for the current year.
In other news, CFO Matthew P. Young sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $170.04, for a total transaction of $850,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bruce C. Cozadd sold 7,000 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $168.86, for a total transaction of $1,182,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,620 shares of company stock valued at $3,168,752. Company insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its stake in shares of Jazz Pharmaceuticals by 22.7% during the first quarter. Daiwa Securities Group Inc. now owns 2,331 shares of the specialty pharmaceutical company’s stock valued at $352,000 after acquiring an additional 431 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Jazz Pharmaceuticals during the first quarter valued at approximately $1,178,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Jazz Pharmaceuticals by 5.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,166 shares of the specialty pharmaceutical company’s stock valued at $26,448,000 after acquiring an additional 9,689 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of Jazz Pharmaceuticals during the first quarter valued at approximately $205,000. Finally, Virginia Retirement Systems ET AL raised its stake in shares of Jazz Pharmaceuticals by 16.8% during the first quarter. Virginia Retirement Systems ET AL now owns 143,100 shares of the specialty pharmaceutical company’s stock valued at $21,607,000 after acquiring an additional 20,600 shares in the last quarter. 90.00% of the stock is owned by hedge funds and other institutional investors.
Jazz Pharmaceuticals Company Profile
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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