Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 12-Month Low – Here’s Why

Jazz Pharmaceuticals plc (NASDAQ:JAZZ)’s share price hit a new 52-week low on Thursday . The stock traded as low as $95.49 and last traded at $110.12, with a volume of 2648109 shares trading hands. The stock had previously closed at $102.82.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Barclays reaffirmed 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. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $183.00 target price (up from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $187.71.

Jazz Pharmaceuticals Trading Up 7.1 %

The company has a market capitalization of $6.69 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.04 and a beta of 0.42. The stock’s 50 day moving average is $130.49 and its 200-day moving average is $122.78. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

Insider Activity

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $123.75, for a total value of $185,625.00. Following the transaction, the chief executive officer now owns 440,307 shares of the company’s stock, valued at approximately $54,487,991.25. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Robert Iannone sold 7,080 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the sale, the chief marketing officer now directly owns 82,024 shares in the company, valued at approximately $11,368,526.40. The trade was a 7.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,736 shares of company stock worth $4,023,305 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

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