Jazz Pharmaceuticals (NASDAQ:JAZZ) EVP Sells $10,650,736.00 in Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) EVP Neena Patil sold 55,600 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total value of $10,650,736.00. Following the sale, the executive vice president directly owned 56,862 shares of the company’s stock, valued at $10,892,484.72. This represents a 49.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $188.69 on Thursday. The stock’s 50-day simple moving average is $170.69 and its two-hundred day simple moving average is $153.18. Jazz Pharmaceuticals PLC has a twelve month low of $95.49 and a twelve month high of $198.00. The firm has a market capitalization of $11.62 billion, a P/E ratio of -31.61, a P/E/G ratio of 0.37 and a beta of 0.22. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.49 by $0.15. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $6.51 EPS. As a group, equities analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in Jazz Pharmaceuticals by 754.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock worth $35,000 after acquiring an additional 234 shares during the last quarter. Hilltop National Bank bought a new stake in Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. Hantz Financial Services Inc. boosted its stake in shares of Jazz Pharmaceuticals by 471.4% during the second quarter. Hantz Financial Services Inc. now owns 360 shares of the specialty pharmaceutical company’s stock valued at $38,000 after purchasing an additional 297 shares during the period. LRI Investments LLC bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $38,000. Finally, Danske Bank A S purchased a new position in shares of Jazz Pharmaceuticals in the third quarter worth $40,000. Institutional investors own 89.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JAZZ shares. Wall Street Zen upgraded shares of Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Royal Bank Of Canada increased their target price on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Bank of America lifted their price target on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Needham & Company LLC upped their price objective on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $219.00 price objective (up from $147.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, December 10th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $214.57.

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.