GMT Capital Corp Trims Stock Position in Jazz Pharmaceuticals PLC $JAZZ

GMT Capital Corp reduced its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 19.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 638,500 shares of the specialty pharmaceutical company’s stock after selling 154,300 shares during the quarter. Jazz Pharmaceuticals comprises 5.7% of GMT Capital Corp’s portfolio, making the stock its 4th biggest holding. GMT Capital Corp’s holdings in Jazz Pharmaceuticals were worth $108,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JAZZ. Vestal Point Capital LP bought a new position in shares of Jazz Pharmaceuticals during the second quarter valued at about $127,344,000. Goldentree Asset Management LP bought a new position in shares of Jazz Pharmaceuticals during the third quarter valued at about $149,597,000. Franklin Resources Inc. grew its stake in shares of Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after buying an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Jazz Pharmaceuticals by 160.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after buying an additional 715,361 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 592.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after buying an additional 373,383 shares during the last quarter. 89.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on JAZZ. Piper Sandler raised their target price on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Bank of America raised their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial reissued an “outperform” rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Finally, UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $188.00 to $307.00 in a research note on Tuesday, May 19th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $246.06.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $230.56 on Friday. The firm has a 50 day moving average price of $217.61 and a 200-day moving average price of $188.84. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $243.32. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of -11,522.24, a PEG ratio of 0.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The firm had revenue of $1.07 billion during the quarter. Equities research analysts forecast that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current fiscal year.

Jazz Pharmaceuticals News Summary

Here are the key news stories impacting Jazz Pharmaceuticals this week:

• Negative Sentiment: Jazz Pharmaceuticals said the Phase 3 LAGOON trial for Zepzelca did not meet its primary endpoint of overall survival in second-line small cell lung cancer. Jazz Pharmaceuticals Provides Update on Zepzelca (lurbinectedin) Phase 3 LAGOON Trial in Second-Line Small Cell Lung Cancer
• Negative Sentiment: Reuters reported the trial failure could put Zepzelca’s current regulatory status at risk, raising uncertainty around a key oncology asset. Jazz Pharmaceuticals lung cancer drug fails main trial goal
• Negative Sentiment: Industry coverage from multiple outlets reinforced the setback, suggesting investor concern may persist until Jazz clarifies next steps for Zepzelca. Jazz Pharma announces late-stage trial setback for lung cancer therapy
• Negative Sentiment: FiercePharma noted the latest twist in the Zepzelca saga, highlighting the importance of the drug to Jazz’s cancer franchise and the market’s negative reaction to the failure. In latest twist in Zepzelca saga, Jazz and PharmaMar lung cancer drug fails phase 3 test
• Negative Sentiment: Separately, an SEC filing showed EVP Neena M. Patil sold 1,200 shares earlier this week, a small insider sale that may add to cautious sentiment. Jazz Pharmaceuticals PLC EVP Neena M. Patil sold shares
• Neutral Sentiment: Some recent commentary still frames Jazz as a value stock with a “moderate buy” analyst consensus, but this is being overshadowed by the trial disappointment. Why Jazz Pharmaceuticals (JAZZ) is a Top Value Stock for the Long-Term

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares in the company, valued at approximately $4,446,209. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares of the company’s stock, valued at $11,950,604.67. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,941 shares of company stock valued at $2,565,339 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.