Rubric Capital Management LP Acquires Shares of 616,617 Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Rubric Capital Management LP acquired a new stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 616,617 shares of the specialty pharmaceutical company’s stock, valued at approximately $65,812,000. Jazz Pharmaceuticals makes up 1.7% of Rubric Capital Management LP’s investment portfolio, making the stock its 20th biggest position. Rubric Capital Management LP owned 0.98% of Jazz Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in JAZZ. Capital World Investors acquired a new stake in Jazz Pharmaceuticals during the first quarter valued at approximately $171,943,000. Swedbank AB acquired a new position in shares of Jazz Pharmaceuticals in the 2nd quarter worth approximately $106,936,000. Vestal Point Capital LP acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter worth approximately $89,175,000. Pacer Advisors Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 40.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock worth $194,346,000 after acquiring an additional 527,187 shares in the last quarter. Finally, Baupost Group LLC MA lifted its holdings in Jazz Pharmaceuticals by 52.8% during the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock worth $136,000,000 after buying an additional 440,552 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $110.76 on Friday. The business’s 50 day moving average price is $110.79 and its two-hundred day moving average price is $111.09. The company has a market cap of $6.98 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.57. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.36. Jazz Pharmaceuticals plc has a twelve month low of $99.06 and a twelve month high of $137.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.87. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Jazz Pharmaceuticals had a return on equity of 28.65% and a net margin of 10.10%. On average, analysts predict that Jazz Pharmaceuticals plc will post 16.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on JAZZ shares. Wells Fargo & Company reduced their price objective on Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. UBS Group reduced their price objective on Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Robert W. Baird reduced their price objective on Jazz Pharmaceuticals from $160.00 to $154.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, August 1st. Finally, Piper Sandler decreased their price objective on Jazz Pharmaceuticals from $188.00 to $166.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Insider Activity

In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $108.30, for a total value of $152,703.00. Following the completion of the sale, the senior vice president now directly owns 14,531 shares in the company, valued at $1,573,707.30. The sale was disclosed in a filing with the SEC, which is available at this link. 4.20% of the stock is owned by company insiders.

Jazz Pharmaceuticals Profile

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.