Jazz Pharmaceuticals (NASDAQ:JAZZ) Sets New 1-Year Low on Analyst Downgrade

Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) hit a new 52-week low on Wednesday after UBS Group lowered their price target on the stock from $117.00 to $113.00. UBS Group currently has a neutral rating on the stock. Jazz Pharmaceuticals traded as low as $102.86 and last traded at $103.53, with a volume of 304466 shares. The stock had previously closed at $105.09.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Jazz Pharmaceuticals from $170.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Stifel Nicolaus increased their target price on shares of Jazz Pharmaceuticals from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Barclays dropped their target price on shares of Jazz Pharmaceuticals from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC dropped their target price on shares of Jazz Pharmaceuticals from $222.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Finally, HC Wainwright reissued a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $188.62.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.65, for a total transaction of $548,250.00. Following the completion of the sale, the executive vice president now owns 36,629 shares of the company’s stock, valued at $4,016,369.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Capital World Investors bought a new position in Jazz Pharmaceuticals during the first quarter worth $171,943,000. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals during the fourth quarter worth $89,175,000. Armistice Capital LLC lifted its stake in Jazz Pharmaceuticals by 108.4% during the fourth quarter. Armistice Capital LLC now owns 651,626 shares of the specialty pharmaceutical company’s stock worth $80,150,000 after purchasing an additional 338,882 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Jazz Pharmaceuticals by 28.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,023,706 shares of the specialty pharmaceutical company’s stock worth $125,916,000 after purchasing an additional 224,865 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in Jazz Pharmaceuticals by 54.0% during the first quarter. Perpetual Ltd now owns 475,018 shares of the specialty pharmaceutical company’s stock worth $57,202,000 after purchasing an additional 166,543 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

The company has a 50 day moving average of $108.70 and a 200-day moving average of $116.35. The stock has a market capitalization of $6.53 billion, a P/E ratio of 21.35, a PEG ratio of 1.64 and a beta of 0.58. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.55). The company had revenue of $901.98 million during the quarter, compared to the consensus estimate of $938.99 million. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. Sell-side analysts predict that Jazz Pharmaceuticals plc will post 15.35 EPS for the current year.

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.