Insider Selling: Jazz Pharmaceuticals (NASDAQ:JAZZ) Director Sells $266,746.35 in Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Director Mark Douglas Smith sold 1,157 shares of the business’s stock in a transaction dated 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 owned 9,680 shares in the company, valued at $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ opened at $224.66 on Friday. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $243.32. The company has a market capitalization of $14.11 billion, a P/E ratio of -11,227.39, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. The company has a 50-day simple moving average of $221.33 and a 200 day simple moving average of $190.53. 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 posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The business had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Sell-side analysts forecast that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current year.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals during the 2nd quarter worth $127,344,000. Goldentree Asset Management LP bought a new stake in shares of Jazz Pharmaceuticals in the third quarter valued at about $149,597,000. Franklin Resources Inc. grew its stake in shares of Jazz Pharmaceuticals by 164.0% in 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 acquiring an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Jazz Pharmaceuticals by 258.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after acquiring an additional 395,000 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JAZZ. TD Cowen increased their price target on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price objective on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Wells Fargo & Company raised their target price on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Bank of America lifted their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $246.06.

Jazz Pharmaceuticals Company 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.