FBR & Co Initiates Coverage on Jazz Pharmaceuticals PLC (JAZZ)

Equities researchers at FBR & Co assumed coverage on shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in a research note issued on Thursday. The brokerage set a “buy” rating and a $206.00 price target on the specialty pharmaceutical company’s stock. FBR & Co’s price objective indicates a potential upside of 43.01% from the company’s previous close.

Several other research analysts have also weighed in on JAZZ. Cowen and Company reissued an “outperform” rating and set a $190.00 price target on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. Wells Fargo & Company reissued an “outperform” rating and set a $177.00 price target (down from $178.00) on shares of Jazz Pharmaceuticals PLC in a research report on Thursday, August 10th. Piper Jaffray Companies reissued a “buy” rating and set a $177.00 price target on shares of Jazz Pharmaceuticals PLC in a research report on Thursday, August 10th. BMO Capital Markets reissued a “buy” rating and set a $196.00 price target on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, September 20th. Finally, Janney Montgomery Scott reissued a “buy” rating and set a $192.00 price target (up from $180.00) on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $180.88.

Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) traded down 0.66% during mid-day trading on Thursday, reaching $144.05. The company’s stock had a trading volume of 299,602 shares. Jazz Pharmaceuticals PLC has a 52-week low of $95.80 and a 52-week high of $163.75. The company has a market capitalization of $8.65 billion, a PE ratio of 22.19 and a beta of 1.05. The firm’s 50 day moving average is $147.72 and its 200-day moving average is $151.35.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last posted its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.13). The business had revenue of $394.39 million for the quarter, compared to analyst estimates of $410.83 million. Jazz Pharmaceuticals PLC had a net margin of 25.69% and a return on equity of 22.75%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. Analysts forecast that Jazz Pharmaceuticals PLC will post $10.88 EPS for the current year.

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In related news, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $153.52, for a total transaction of $153,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul L. Berns sold 662 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $142.37, for a total value of $94,248.94. Following the sale, the director now owns 6,599 shares of the company’s stock, valued at approximately $939,499.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,517 shares of company stock valued at $665,623. 4.30% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in shares of Jazz Pharmaceuticals PLC by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 736 shares of the specialty pharmaceutical company’s stock worth $114,000 after acquiring an additional 81 shares during the period. US Bancorp DE lifted its position in shares of Jazz Pharmaceuticals PLC by 94.4% in the 2nd quarter. US Bancorp DE now owns 758 shares of the specialty pharmaceutical company’s stock worth $118,000 after acquiring an additional 368 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Jazz Pharmaceuticals PLC by 43.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 981 shares of the specialty pharmaceutical company’s stock worth $141,000 after acquiring an additional 295 shares during the period. Gargoyle Investment Advisor L.L.C. bought a new stake in shares of Jazz Pharmaceuticals PLC in the 2nd quarter worth approximately $206,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Jazz Pharmaceuticals PLC in the 2nd quarter worth approximately $211,000. Institutional investors own 87.82% of the company’s stock.

About Jazz Pharmaceuticals PLC

Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.

Analyst Recommendations for Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

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