Penn Capital Management Company LLC Buys New Position in Jazz Pharmaceuticals PLC $JAZZ

Penn Capital Management Company LLC purchased a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,297 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,009,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Jazz Pharmaceuticals during the first quarter worth $25,000. Pension & Wealth Management Advisors Inc. acquired a new position in Jazz Pharmaceuticals in the 3rd quarter worth $32,000. Ameritas Advisory Services LLC acquired a new position in Jazz Pharmaceuticals in the 2nd quarter worth $47,000. Westpac Banking Corp bought a new position in Jazz Pharmaceuticals during the 1st quarter worth about $51,000. Finally, Elevation Wealth Partners LLC increased its holdings in Jazz Pharmaceuticals by 156.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 259 shares of the specialty pharmaceutical company’s stock worth $60,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Renée Galá sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $243.03, for a total value of $486,060.00. Following the sale, the chief executive officer owned 143,394 shares of the company’s stock, valued at approximately $34,849,043.82. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce Cozadd sold 68,808 shares of the company’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $235.95, for a total value of $16,235,247.60. Following the sale, the director owned 357,567 shares in the company, valued at $84,367,933.65. The trade was a 16.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 171,342 shares of company stock worth $41,420,491 over the last three months. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JAZZ. Wells Fargo & Company lifted their price target on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Truist Financial upped 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, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. TD Cowen lifted their target price on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut Jazz Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $293.00.

Jazz Pharmaceuticals Stock Up 0.8%

Jazz Pharmaceuticals stock opened at $245.43 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 1.09. Jazz Pharmaceuticals PLC has a 1-year low of $132.10 and a 1-year high of $266.38. The company has a fifty day simple moving average of $229.26 and a 200 day simple moving average of $218.48. The company has a market cap of $15.75 billion, a P/E ratio of 83.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) EPS for the quarter, topping the consensus estimate of ($4.03) by $0.15. Jazz Pharmaceuticals had a net margin of 4.37% and a return on equity of 16.88%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $8.13 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts anticipate that Jazz Pharmaceuticals PLC will post 11.08 earnings per share for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.