Bullish indicating open at $55-$60, IPO prices at $37
Bruce C. Cozadd, Chairman and CEO of Jazz Pharmaceuticals plc (NASDAQ:JAZZ), a company with impressive 92.62% gross profit margins and a "GREAT" financial health score according to InvestingPro, recently sold 1,500 ordinary shares of the company. The shares were sold at an average price of $122.31, resulting in a total transaction value of $183,465. Following this sale, Cozadd retains ownership of 439,744 shares, representing approximately $53.4 million at current market value. The transaction was conducted under a pre-established Rule 10b5-1 trading plan. InvestingPro analysis indicates the stock is currently undervalued, with 8 additional key insights available to subscribers, including details about management’s aggressive share buyback program.
In other recent news, Jazz Pharmaceuticals has been the subject of several significant developments. The company’s CEO and co-founder, Bruce Cozadd, is set to retire by the end of 2025, prompting a comprehensive search for his successor. Despite the forthcoming leadership transition, Jazz Pharmaceuticals confirmed its financial outlook for fiscal year 2024, projecting revenues between $4.0 and $4.1 billion.
TD Cowen has reiterated its Buy rating on the company, maintaining a price target of $195. The firm’s positive stance is supported by the robustness of Jazz’s core business and the prospects of its drug candidate, zanidatamab. TD Cowen’s analysts also anticipate the submission of a supplemental New Drug Application for Zepzelca and promising data for zanidatamab in the second quarter of 2025.
On the other hand, Truist Securities has increased its price target for Jazz Pharmaceuticals to $220, citing the growth potential of Jazz’s Ziihera franchise. The firm expects further approvals for Ziihera, including potential approval for first-line gastroesophageal adenocarcinoma in 2026 and possible breast cancer entry in 2028.
Furthermore, Morgan Stanley (NYSE:MS) upgraded Jazz Pharmaceuticals from Equalweight to Overweight, setting a new price target of $175. The upgrade followed the successful launch of Ziihera in Biliary Tract Cancer and anticipation of Phase 3 data in Gastric Esophageal Adenocarcinoma in 2025. These recent developments reflect a promising outlook for Jazz Pharmaceuticals in the near future.
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