Point72 Asset Management L.P. Grows Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Point72 Asset Management L.P. increased its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 47.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,783 shares of the specialty pharmaceutical company’s stock after purchasing an additional 86,768 shares during the period. Point72 Asset Management L.P. owned 0.44% of Jazz Pharmaceuticals worth $29,945,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter worth about $3,197,000. Swedbank AB purchased a new stake in Jazz Pharmaceuticals in the second quarter worth about $106,936,000. Pacer Advisors Inc. increased its stake in shares of Jazz Pharmaceuticals by 15.3% during the third quarter. Pacer Advisors Inc. now owns 2,099,378 shares of the specialty pharmaceutical company’s stock valued at $233,892,000 after purchasing an additional 278,465 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new position in shares of Jazz Pharmaceuticals during the third quarter valued at approximately $830,000. Finally, Victory Capital Management Inc. boosted its position in shares of Jazz Pharmaceuticals by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 205,492 shares of the specialty pharmaceutical company’s stock worth $21,932,000 after purchasing an additional 61,458 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

NASDAQ JAZZ opened at $123.14 on Friday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.03 and a beta of 0.57. Jazz Pharmaceuticals plc has a 1-year low of $99.06 and a 1-year high of $134.17. 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 business’s fifty day moving average price is $115.95 and its 200-day moving average price is $111.46.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $207.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada raised their price objective on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen dropped their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.33.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $123.41, for a total transaction of $456,617.00. Following the completion of the sale, the executive vice president now directly owns 33,048 shares of the company’s stock, valued at approximately $4,078,453.68. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total transaction of $242,340.00. Following the transaction, the chief executive officer now owns 427,025 shares in the company, valued at $51,742,619.25. This represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,753 shares of company stock valued at $816,289. 4.20% of the stock is owned by company insiders.

Jazz Pharmaceuticals 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.