Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price Down 6.1% – Here’s Why

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) fell 6.1% during trading on Tuesday . The stock traded as low as $162.60 and last traded at $163.7750. 1,162,583 shares were traded during mid-day trading, an increase of 20% from the average session volume of 971,298 shares. The stock had previously closed at $174.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research note on Monday, December 29th. Bank of America lifted their target price on shares of Jazz Pharmaceuticals from $230.00 to $247.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. UBS Group reiterated a “neutral” rating and set a $188.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Monday, November 24th. Morgan Stanley raised their price target on Jazz Pharmaceuticals from $185.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Jazz Pharmaceuticals from $204.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, October 27th. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $200.47.

Jazz Pharmaceuticals Price Performance

The firm’s fifty day simple moving average is $161.64 and its two-hundred day simple moving average is $136.25. The company has a quick ratio of 1.44, a current ratio of 1.65 and a debt-to-equity ratio of 1.09. The firm has a market cap of $10.08 billion, a PE ratio of -27.32, a P/E/G ratio of 0.81 and a beta of 0.27.

Insiders Place Their Bets

In other news, Director Rick E. Winningham sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $180.86, for a total value of $994,730.00. Following the completion of the sale, the director directly owned 8,893 shares of the company’s stock, valued at $1,608,387.98. This trade represents a 38.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Patricia Carr sold 5,319 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $182.06, for a total value of $968,377.14. Following the transaction, the chief accounting officer directly owned 7,012 shares in the company, valued at approximately $1,276,604.72. This represents a 43.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 123,791 shares of company stock valued at $21,991,850. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP bought a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $127,344,000. Goldentree Asset Management LP purchased a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter worth $149,597,000. Schonfeld Strategic Advisors LLC boosted its position in Jazz Pharmaceuticals by 592.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after purchasing an additional 373,383 shares in the last quarter. AQR Capital Management LLC raised its holdings in Jazz Pharmaceuticals by 62.1% in the second quarter. AQR Capital Management LLC now owns 794,770 shares of the specialty pharmaceutical company’s stock worth $84,341,000 after purchasing an additional 304,463 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Jazz Pharmaceuticals by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock valued at $373,855,000 after buying an additional 298,815 shares during the last quarter. Institutional investors own 89.14% of the company’s stock.

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.