Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) shares rose in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks opened significantly lower in early trading. The Dow Jones Industrial Average was 58 points lower, or 0.29% to 19895, the S&P 500 fell 7 points, or 0.28% to 2268, while the Nasdaq dropped 22 points, or 0.38% to 5542.
Analysts at Cantor Fitzgerald reiterated a Buy rating on shares of Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. The company currently has a rating of Buy on the shares. The one-year price target of $173.71 is above the opening price of $115.03, causing a number of other analysts to report on the company in recent days. Looking back over the last 52 weeks, Jazz Pharmaceuticals PLC stock has a high of $160.00. Share prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) shares last traded at $115.90, a jump of $0.20 from the previous closing price. Opening at $115.03, they ranged from $114.76 and $115.91 throughout the day.
Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) currently has a market cap of 6.94B.
Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) Average Daily Trading Volume
29,611 shares traded hands yesterday, 91 percent below the average, out of a total float 58,482,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) have ranged from $95.80 – 160.00, and the stock now has a 50-day MA of $107.19 and 200-day MA of $123.90. Today’s last price is 27.56%% lower than the 52 week high of $160.00.
Earnings growth is an important factor to look at when buying stocks and investors watch for companies that have grown their earnings at least 25% or more for a 3 year period.
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