Jazz Pharmaceuticals plc (NASDAQ:JAZZ) CMO Robert Iannone Sells 7,080 Shares

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

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock opened at $138.81 on Friday. Jazz Pharmaceuticals plc has a one year low of $99.06 and a one year high of $148.06. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.04 and a beta of 0.44. The business’s 50 day moving average price is $128.14 and its 200 day moving average price is $120.03. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Institutional Investors Weigh In On Jazz Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc acquired a new position in Jazz Pharmaceuticals in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC grew its position in Jazz Pharmaceuticals by 97.1% in the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company’s stock worth $25,000 after acquiring an additional 101 shares during the period. Elequin Capital LP increased its stake in Jazz Pharmaceuticals by 677.8% during the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company’s stock worth $26,000 after acquiring an additional 183 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $28,000. Finally, Allianz SE acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Wall Street Analyst Weigh In

JAZZ has been the subject of a number of recent research reports. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. Barclays restated an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $183.00 target price (up from $175.00) on shares of Jazz Pharmaceuticals in a research note on Friday. Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $170.00 in a research report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $189.40.

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.