Key Points
- Executive stock sale: Jazz Pharmaceuticals EVP Neena Patil sold 1,200 shares for approximately $289,128 under a pre-arranged Rule 10b5-1 trading plan, reducing her holdings by 2.46% to 47,671 shares.
- Quarterly performance: The company reported $1.21 billion in revenue, up 15.5% year over year and above estimates, although adjusted EPS of $5.71 missed the $6.18 consensus.
- Positive analyst sentiment: Analysts maintain a consensus “Buy” rating with an average price target of $286.72, while institutional investors own 89.14% of Jazz Pharmaceuticals’ shares.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) EVP Neena Patil sold 1,200 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the sale, the executive vice president owned 47,671 shares in the company, valued at $11,485,850.74. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jazz Pharmaceuticals Stock Performance
Shares of NASDAQ JAZZ opened at $245.87 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. The stock has a 50 day moving average price of $249.41 and a 200 day moving average price of $224.59. The stock has a market capitalization of $15.96 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a 52 week low of $123.88 and a 52 week high of $266.38.
Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned ($8.25) EPS. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current fiscal year.
Institutional Trading of Jazz Pharmaceuticals
A number of hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new position in Jazz Pharmaceuticals in the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new position in Jazz Pharmaceuticals in the 2nd quarter valued at about $47,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Jazz Pharmaceuticals during the second quarter worth 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 bought a new stake in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 89.14% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, August 26th. Needham & Company LLC increased their price target on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Weiss Ratings raised shares of Jazz Pharmaceuticals from a "hold (c-)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Canaccord Genuity Group set a $300.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus set a $275.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $286.72.
Check Out Our Latest Analysis on JAZZ
About Jazz Pharmaceuticals
(
Get Free Report)
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.
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