Insider Selling: Jazz Pharmaceuticals (NASDAQ:JAZZ) EVP Sells $289,128.00 in Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) EVP Neena Patil sold 1,200 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the completion of the sale, the executive vice president directly owned 47,671 shares in the company, valued at approximately $11,485,850.74. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Trading Up 1.1%

Shares of Jazz Pharmaceuticals stock opened at $243.59 on Thursday. Jazz Pharmaceuticals PLC has a 12-month low of $125.79 and a 12-month high of $266.38. 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 cap of $15.81 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.22 and a beta of 0.36. The company has a fifty day simple moving average of $249.17 and a 200-day simple moving average of $225.29.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company posted ($8.25) EPS. Jazz Pharmaceuticals’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JAZZ shares. Morgan Stanley upped their price target on Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Truist Financial upped their target price on Jazz Pharmaceuticals from $264.00 to $281.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Barclays raised their price target on Jazz Pharmaceuticals from $270.00 to $271.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Royal Bank Of Canada set a $299.00 price objective on shares of Jazz Pharmaceuticals in a research note on Friday, August 28th. Finally, Bank of America raised their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $286.72.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JAZZ. USA Financial Formulas acquired a new stake in shares of Jazz Pharmaceuticals during the 1st quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Jazz Pharmaceuticals during the second quarter valued at approximately $47,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Jazz Pharmaceuticals during the second quarter valued at approximately $61,000. Westpac Banking Corp acquired a new stake in Jazz Pharmaceuticals during the first quarter worth approximately $51,000. Finally, Leonteq Securities AG purchased a new stake in Jazz Pharmaceuticals in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.