AQR Arbitrage LLC Sells 9,118 Shares of Jazz Pharmaceuticals PLC $JAZZ

AQR Arbitrage LLC reduced its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,020 shares of the specialty pharmaceutical company’s stock after selling 9,118 shares during the quarter. AQR Arbitrage LLC owned about 0.13% of Jazz Pharmaceuticals worth $8,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JAZZ. Paloma Partners Management Co acquired a new position in Jazz Pharmaceuticals in the second quarter valued at $369,000. Acuta Capital Partners LLC increased its holdings in Jazz Pharmaceuticals by 174.5% during the 2nd quarter. Acuta Capital Partners LLC now owns 26,283 shares of the specialty pharmaceutical company’s stock worth $2,789,000 after purchasing an additional 16,708 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Jazz Pharmaceuticals by 2.5% during the 2nd quarter. Raymond James Financial Inc. now owns 158,982 shares of the specialty pharmaceutical company’s stock worth $16,871,000 after acquiring an additional 3,916 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Jazz Pharmaceuticals by 40.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 248,500 shares of the specialty pharmaceutical company’s stock valued at $26,371,000 after buying an additional 71,900 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Jazz Pharmaceuticals by 22.3% during the second quarter. Alliancebernstein L.P. now owns 144,284 shares of the specialty pharmaceutical company’s stock valued at $15,311,000 after acquiring an additional 26,335 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Up 1.6%

Shares of NASDAQ:JAZZ opened at $167.50 on Friday. Jazz Pharmaceuticals PLC has a 12-month low of $95.49 and a 12-month high of $182.99. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of -27.59, a PEG ratio of 3.71 and a beta of 0.30. The stock has a fifty day simple moving average of $150.93 and a two-hundred day simple moving average of $129.11. The company has a current ratio of 1.65, a quick ratio of 1.44 and a debt-to-equity ratio of 1.09.

Analyst Ratings Changes

JAZZ has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $219.00 target price (up from $147.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday. Zacks Research upgraded shares of Jazz Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Wall Street Zen raised Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company lifted their price objective on shares of Jazz Pharmaceuticals from $170.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Finally, Bank of America upped their price objective on shares of Jazz Pharmaceuticals from $230.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.47.

Insiders Place Their Bets

In other news, Director Heather Ann Mcsharry sold 3,415 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $177.78, for a total transaction of $607,118.70. Following the completion of the sale, the director owned 20,449 shares of the company’s stock, valued at $3,635,423.22. The trade was a 14.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rick E. Winningham sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $180.86, for a total transaction of $994,730.00. Following the sale, the director owned 8,893 shares in the company, valued at approximately $1,608,387.98. The trade was a 38.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,291 shares of company stock worth $22,745,410 in the last 90 days. Insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.