Castleark Management LLC Invests $9.21 Million in Jazz Pharmaceuticals PLC $JAZZ

Castleark Management LLC purchased a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,740 shares of the specialty pharmaceutical company’s stock, valued at approximately $9,214,000. Castleark Management LLC owned approximately 0.08% of Jazz Pharmaceuticals as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ruffer LLP purchased a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $2,425,000. Allianz Asset Management GmbH lifted its position in Jazz Pharmaceuticals by 68.2% in the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock valued at $101,801,000 after acquiring an additional 242,892 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $1,700,000. Swedbank AB boosted its stake in Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock valued at $187,506,000 after acquiring an additional 28,882 shares in the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at $1,864,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. Barclays upped their target price on Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Wells Fargo & Company lifted their price target on Jazz Pharmaceuticals from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Truist Financial reduced their price objective on Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.06.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $253.87 on Monday. The company has a 50-day simple moving average of $237.37 and a 200-day simple moving average of $203.44. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $256.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The stock has a market capitalization of $15.95 billion, a price-to-earnings ratio of -12,687.16, a PEG ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion during the quarter. On average, analysts predict that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current year.

Insider Activity

In other news, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the sale, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Heather Ann Mcsharry sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the sale, the director directly owned 18,449 shares of the company’s stock, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,098 shares of company stock worth $3,131,906 over the last quarter. 4.10% of the stock is owned by insiders.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.