Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock Price Down 5.4% – Time to Sell?

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) fell 5.4% during mid-day trading on Tuesday . The company traded as low as $134.46 and last traded at $134.31. 633,454 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 704,698 shares. The stock had previously closed at $142.02.

Analysts Set New Price Targets

JAZZ has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. Truist Financial boosted their price objective on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. UBS Group upgraded Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $179.00 in a research report on Friday, March 7th. Morgan Stanley reissued an “overweight” rating and issued a $183.00 price target (up from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. Finally, Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $130.00 to $170.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Buy” and an average price target of $187.71.

Jazz Pharmaceuticals Stock Performance

The business’s fifty day moving average is $132.19 and its two-hundred day moving average is $122.29. The stock has a market capitalization of $7.68 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.04 and a beta of 0.44. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Insiders Place Their Bets

In related news, CAO Patricia Carr sold 4,813 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $144.42, for a total value of $695,093.46. Following the completion of the transaction, the chief accounting officer now owns 8,237 shares in the company, valued at approximately $1,189,587.54. This trade represents a 36.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Robert Iannone sold 2,403 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $138.41, for a total value of $332,599.23. Following the sale, the chief marketing officer now directly owns 79,621 shares in the company, valued at $11,020,342.61. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,736 shares of company stock valued at $4,022,825 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Jazz Pharmaceuticals by 135.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company’s stock worth $19,394,000 after acquiring an additional 100,112 shares during the last quarter. Centre Asset Management LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter worth about $9,335,000. Moloney Securities Asset Management LLC bought a new stake in Jazz Pharmaceuticals in the fourth quarter worth about $464,000. Franklin Resources Inc. boosted its position in shares of Jazz Pharmaceuticals by 4.6% during the third quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company’s stock valued at $124,208,000 after buying an additional 48,708 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Jazz Pharmaceuticals by 13.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company’s stock valued at $4,420,000 after buying an additional 4,332 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Company 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.