Insider Selling: Jazz Pharmaceuticals (NASDAQ:JAZZ) Director Sells 1,157 Shares of Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the transaction, the director directly owned 9,680 shares of the company’s stock, valued at $2,231,724. This represents a 10.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Trading Up 0.0%

JAZZ traded up $0.05 during trading on Wednesday, reaching $226.93. 679,885 shares of the stock traded hands, compared to its average volume of 985,955. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average is $219.28 and its 200 day moving average is $189.60. Jazz Pharmaceuticals PLC has a 12 month low of $105.00 and a 12 month high of $243.32. The stock has a market capitalization of $14.26 billion, a PE ratio of -11,340.83, a P/E/G ratio of 0.20 and a beta of 0.32.

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

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in JAZZ. Vestal Point Capital LP purchased a new stake in Jazz Pharmaceuticals in the 2nd quarter valued at $127,344,000. Goldentree Asset Management LP purchased a new position in Jazz Pharmaceuticals during the 3rd quarter worth $149,597,000. Franklin Resources Inc. grew its stake in shares of Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after acquiring an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Jazz Pharmaceuticals by 160.2% in 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 purchasing an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Jazz Pharmaceuticals by 258.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock valued at $93,160,000 after purchasing an additional 395,000 shares during the last quarter. 89.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Leerink Partners upped their price objective on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Truist Financial set a $256.00 price objective on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wells Fargo & Company upped their price target on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $252.00 price objective on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Sixteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $246.06.

About Jazz Pharmaceuticals

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.