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

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on JAZZ shares. 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 report on Wednesday, February 26th. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. Barclays restated an “overweight” rating and issued a $200.00 target price (up previously from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright upped their price target on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a “buy” rating in a report on Monday, March 10th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $187.71.

Jazz Pharmaceuticals Stock Performance

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

Insiders Place Their Bets

In related news, CAO Patricia Carr sold 1,140 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $137.81, for a total value of $157,103.40. Following the sale, the chief accounting officer now directly owns 7,012 shares of the company’s stock, valued at $966,323.72. This represents a 13.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bruce C. Cozadd sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.31, for a total value of $183,465.00. Following the transaction, the chief executive officer now directly owns 439,744 shares of the company’s stock, valued at $53,785,088.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,736 shares of company stock worth $4,022,825 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of JAZZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Jazz Pharmaceuticals by 135.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company’s stock worth $19,394,000 after purchasing an additional 100,112 shares in the last quarter. Centre Asset Management LLC bought a new stake in Jazz Pharmaceuticals in the fourth quarter worth $9,335,000. Moloney Securities Asset Management LLC bought a new stake in Jazz Pharmaceuticals in the fourth quarter worth $464,000. Franklin Resources Inc. grew its stake in shares of Jazz Pharmaceuticals by 4.6% in the third quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company’s stock worth $124,208,000 after acquiring an additional 48,708 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Jazz Pharmaceuticals by 13.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company’s stock valued at $4,420,000 after acquiring an additional 4,332 shares in the last quarter. 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.