Essex Investment Management Co. LLC Invests $2.70 Million in Jazz Pharmaceuticals PLC $JAZZ

Essex Investment Management Co. LLC purchased a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,463 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,697,000.

Several other hedge funds have also recently bought and sold shares of the stock. Tectonic Advisors LLC increased its position in shares of Jazz Pharmaceuticals by 1.5% during the 3rd quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company’s stock worth $742,000 after purchasing an additional 82 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Jazz Pharmaceuticals by 0.6% during the second quarter. Teacher Retirement System of Texas now owns 15,560 shares of the specialty pharmaceutical company’s stock worth $1,651,000 after buying an additional 90 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in shares of Jazz Pharmaceuticals by 8.7% during the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,250 shares of the specialty pharmaceutical company’s stock worth $133,000 after buying an additional 100 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Jazz Pharmaceuticals by 3.5% in the third quarter. Blue Trust Inc. now owns 3,261 shares of the specialty pharmaceutical company’s stock valued at $430,000 after acquiring an additional 109 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in shares of Jazz Pharmaceuticals by 0.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 13,948 shares of the specialty pharmaceutical company’s stock worth $1,838,000 after acquiring an additional 123 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JAZZ shares. TD Cowen reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals in a report on Thursday, January 29th. Wall Street Zen upgraded Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Robert W. Baird lifted their price target on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Wells Fargo & Company increased 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, Piper Sandler restated an “overweight” rating and issued a $219.00 price objective (up previously from $147.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, December 10th. Fourteen 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.67.

Insider Buying and Selling

In other news, Director Rick E. Winningham sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $180.86, for a total transaction of $994,730.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patricia Carr sold 5,319 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $182.06, for a total transaction of $968,377.14. Following the completion of the sale, the chief accounting officer owned 7,012 shares in the company, valued at $1,276,604.72. This represents a 43.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 123,791 shares of company stock worth $21,991,850 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Jazz Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ JAZZ opened at $165.00 on Tuesday. Jazz Pharmaceuticals PLC has a 1 year low of $95.49 and a 1 year high of $182.99. The firm’s 50-day moving average is $167.72 and its 200-day moving average is $146.05. The company has a current ratio of 1.65, a quick ratio of 1.44 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $10.03 billion, a PE ratio of -27.18, a price-to-earnings-growth ratio of 0.89 and a beta of 0.26.

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.