Jazz Pharmaceuticals (NASDAQ:JAZZ) CEO Renee Gala Sells 2,000 Shares of Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) CEO Renee Gala sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $236.40, for a total transaction of $472,800.00. Following the completion of the transaction, the chief executive officer owned 141,394 shares in the company, valued at approximately $33,425,541.60. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Stock Performance

JAZZ stock traded down $0.20 during mid-day trading on Wednesday, hitting $231.19. 578,903 shares of the company were exchanged, compared to its average volume of 938,583. The business has a 50 day simple moving average of $246.17 and a 200-day simple moving average of $230.45. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $15.01 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.21 and a beta of 0.37. Jazz Pharmaceuticals PLC has a 1-year low of $128.80 and a 1-year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. Jazz Pharmaceuticals’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($8.25) EPS. On average, equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.61 earnings per share for the current year.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of Jazz Pharmaceuticals by 156.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 259 shares of the specialty pharmaceutical company’s stock valued at $60,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc increased its position in shares of Jazz Pharmaceuticals by 22.4% in the third quarter. Versant Capital Management Inc now owns 2,886 shares of the specialty pharmaceutical company’s stock worth $668,000 after purchasing an additional 529 shares during the period. Parrish Capital LLC increased its position in shares of Jazz Pharmaceuticals by 11.1% in the third quarter. Parrish Capital LLC now owns 3,536 shares of the specialty pharmaceutical company’s stock worth $819,000 after purchasing an additional 354 shares during the period. Sequoia Financial Advisors LLC raised its stake in Jazz Pharmaceuticals by 9.4% in the second quarter. Sequoia Financial Advisors LLC now owns 4,527 shares of the specialty pharmaceutical company’s stock valued at $1,091,000 after purchasing an additional 389 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Jazz Pharmaceuticals by 8.3% in the second quarter. Tidal Investments LLC now owns 21,028 shares of the specialty pharmaceutical company’s stock valued at $5,067,000 after purchasing an additional 1,615 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial increased their price objective on Jazz Pharmaceuticals from $281.00 to $286.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Jazz Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $337.00 target price for the company. TD Cowen upped their price target on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Piper Sandler raised their price target on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Barclays lifted their price objective on shares of Jazz Pharmaceuticals from $270.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $291.40.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.