Darwin Global Management Ltd. Buys New Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Darwin Global Management Ltd. acquired a new stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 484,515 shares of the specialty pharmaceutical company's stock, valued at approximately $59,668,000. Jazz Pharmaceuticals comprises approximately 5.7% of Darwin Global Management Ltd.'s investment portfolio, making the stock its 2nd largest position. Darwin Global Management Ltd. owned approximately 0.80% of Jazz Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JAZZ. AdvisorShares Investments LLC grew its stake in Jazz Pharmaceuticals by 113.5% in the 4th quarter. AdvisorShares Investments LLC now owns 10,460 shares of the specialty pharmaceutical company's stock worth $1,288,000 after acquiring an additional 5,560 shares in the last quarter. Northern Trust Corp boosted its holdings in Jazz Pharmaceuticals by 18.9% in the fourth quarter. Northern Trust Corp now owns 521,196 shares of the specialty pharmaceutical company's stock worth $64,185,000 after acquiring an additional 82,817 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Jazz Pharmaceuticals by 1.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 353,467 shares of the specialty pharmaceutical company's stock valued at $43,529,000 after buying an additional 5,715 shares during the last quarter. Quarry LP increased its holdings in Jazz Pharmaceuticals by 6.3% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock worth $209,000 after buying an additional 100 shares during the period. Finally, Tri Locum Partners LP purchased a new position in shares of Jazz Pharmaceuticals during the 4th quarter valued at about $19,927,000. Hedge funds and other institutional investors own 89.14% of the company's stock.

Insiders Place Their Bets

In related news, EVP Neena M. Patil sold 3,800 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $144.87, for a total transaction of $550,506.00. Following the transaction, the executive vice president now owns 33,318 shares in the company, valued at approximately $4,826,778.66. This trade represents a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Robert Iannone sold 7,080 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $11,368,526.40. The trade was a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,736 shares of company stock valued at $4,023,305 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ traded up $2.87 during mid-day trading on Friday, reaching $120.05. The company's stock had a trading volume of 1,200,496 shares, compared to its average volume of 804,808. The stock has a market capitalization of $7.40 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.04 and a beta of 0.42. Jazz Pharmaceuticals plc has a 1-year low of $95.49 and a 1-year high of $148.06. The stock has a 50-day moving average of $122.63 and a two-hundred day moving average of $122.47. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Analysts Set New Price Targets

Several analysts recently commented on JAZZ shares. Royal Bank of Canada dropped their target price on Jazz Pharmaceuticals from $179.00 to $178.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. UBS Group raised shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their price target for the stock from $145.00 to $179.00 in a report on Friday, March 7th. HC Wainwright lifted their price objective on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a report on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and set a $210.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday, April 10th. Finally, Wells Fargo & Company upgraded Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $187.71.

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.