Insider Selling: Jazz Pharmaceuticals plc (NASDAQ:JAZZ) CMO Sells 7,080 Shares of Stock

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) CMO Robert Iannone sold 7,080 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the completion of the transaction, the chief marketing officer now directly owns 82,024 shares of the company’s stock, valued at approximately $11,368,526.40. This trade represents a 7.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ opened at $138.81 on Monday. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $148.06. The company’s 50 day moving average price is $128.14 and its two-hundred day moving average price is $120.07. The firm has a market cap of $8.43 billion, a PE ratio of 19.55, a PEG 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.

Wall Street Analyst Weigh In

JAZZ has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Robert W. Baird raised their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $176.00 price target (up previously from $163.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $189.40.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several institutional investors have recently made changes to their positions in JAZZ. Mackenzie Financial Corp raised its holdings in Jazz Pharmaceuticals by 493.3% in the 4th quarter. Mackenzie Financial Corp now owns 20,286 shares of the specialty pharmaceutical company’s stock valued at $2,498,000 after acquiring an additional 16,867 shares in the last quarter. Forum Financial Management LP bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth $245,000. GF Fund Management CO. LTD. acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $156,000. MidWestOne Financial Group Inc. lifted its position in Jazz Pharmaceuticals by 10.4% during the fourth quarter. MidWestOne Financial Group Inc. now owns 24,347 shares of the specialty pharmaceutical company’s stock worth $2,998,000 after purchasing an additional 2,284 shares during the period. Finally, Elequin Capital LP increased its holdings in Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock valued at $26,000 after buying an additional 183 shares during the period. 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.