Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Sees Significant Decline in Short Interest

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,850,000 shares, a decrease of 8.3% from the December 15th total of 4,200,000 shares. Currently, 6.7% of the company’s shares are short sold. Based on an average daily volume of 606,000 shares, the days-to-cover ratio is currently 6.4 days.

Jazz Pharmaceuticals Price Performance

JAZZ stock traded down $1.44 during midday trading on Friday, reaching $121.18. The company had a trading volume of 388,542 shares, compared to its average volume of 538,909. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. Jazz Pharmaceuticals has a 1 year low of $99.06 and a 1 year high of $134.17. The company has a market capitalization of $7.33 billion, a P/E ratio of 17.07, a P/E/G ratio of 0.88 and a beta of 0.56. The firm has a 50-day moving average price of $122.78 and a 200-day moving average price of $114.60.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $179.00 price target on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. Morgan Stanley raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $175.00 in a research report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $207.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $163.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity

In related news, EVP Neena M. Patil sold 3,700 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 33,048 shares of the company’s stock, valued at $4,078,453.68. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total transaction of $185,145.00. Following the transaction, the chief executive officer now directly owns 425,525 shares in the company, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,253 shares of company stock valued at $1,001,434. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Lmcg Investments LLC bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at $5,599,000. MassMutual Private Wealth & Trust FSB raised its holdings in Jazz Pharmaceuticals by 26,389.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 17,748 shares of the specialty pharmaceutical company’s stock worth $2,186,000 after purchasing an additional 17,681 shares in the last quarter. UMB Bank n.a. raised its holdings in Jazz Pharmaceuticals by 70.9% in the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company’s stock worth $38,000 after purchasing an additional 129 shares in the last quarter. Ellsworth Advisors LLC raised its holdings in Jazz Pharmaceuticals by 0.4% in the 4th quarter. Ellsworth Advisors LLC now owns 37,962 shares of the specialty pharmaceutical company’s stock worth $4,675,000 after purchasing an additional 149 shares in the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in Jazz Pharmaceuticals in the 4th quarter worth $301,000. 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.