Jazz Pharmaceuticals (NASDAQ:JAZZ) Shares Down 5.4% – Here’s Why

Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s share price was down 5.4% during mid-day trading on Tuesday . The stock traded as low as $134.46 and last traded at $134.31. Approximately 633,454 shares were traded during trading, a decline of 10% from the average daily volume of 704,698 shares. The stock had previously closed at $142.02.

Analyst Ratings Changes

A number of brokerages recently weighed in on JAZZ. UBS Group raised shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $179.00 in a report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their price target on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Cantor Fitzgerald downgraded Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. Finally, Barclays reissued an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $187.71.

Jazz Pharmaceuticals Trading Down 4.8 %

The firm’s 50 day moving average is $131.79 and its 200 day moving average is $122.03. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The company has a market cap of $8.21 billion, a PE ratio of 19.05, a PEG ratio of 1.04 and a beta of 0.44.

Insider Activity

In other news, CMO Robert Iannone sold 2,403 shares of Jazz Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $138.41, for a total transaction of $332,599.23. Following the completion of the sale, the chief marketing officer now owns 79,621 shares in the company, valued at approximately $11,020,342.61. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Patricia Carr sold 1,140 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $137.81, for a total transaction of $157,103.40. Following the completion of the transaction, the chief accounting officer now owns 7,012 shares in the company, valued at approximately $966,323.72. This trade represents a 13.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,736 shares of company stock worth $4,022,825 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc purchased a new stake in Jazz Pharmaceuticals during the fourth quarter valued at about $25,000. Quadrant Capital Group LLC raised its holdings in shares of Jazz Pharmaceuticals by 97.1% during the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. Elequin Capital LP lifted its position in Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after buying an additional 183 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Jazz Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Allianz SE purchased a new stake in Jazz Pharmaceuticals in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

About Jazz Pharmaceuticals

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.