AQR Arbitrage LLC Makes New $5.15 Million Investment in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

AQR Arbitrage LLC bought a new stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 41,818 shares of the specialty pharmaceutical company's stock, valued at approximately $5,150,000. AQR Arbitrage LLC owned about 0.07% of Jazz Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Darwin Global Management Ltd. bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $59,668,000. AdvisorShares Investments LLC raised its holdings in Jazz Pharmaceuticals by 113.5% during the 4th quarter. AdvisorShares Investments LLC now owns 10,460 shares of the specialty pharmaceutical company's stock worth $1,288,000 after buying an additional 5,560 shares during the period. Northern Trust Corp lifted its stake 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 valued at $64,185,000 after buying an additional 82,817 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Jazz Pharmaceuticals by 1.6% in 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 period. Finally, Quarry LP increased its position in shares of Jazz Pharmaceuticals by 6.3% during the fourth quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock worth $209,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock traded down $1.86 during midday trading on Monday, reaching $118.19. The company's stock had a trading volume of 1,276,931 shares, compared to its average volume of 806,745. The stock has a market cap of $7.28 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.42. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $122.63 and a 200-day moving average price of $122.52. Jazz Pharmaceuticals plc has a 52 week low of $95.49 and a 52 week high of $148.06.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, CAO Patricia Carr sold 4,813 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.42, for a total transaction of $695,093.46. Following the transaction, the chief accounting officer now owns 8,237 shares in the company, valued at approximately $1,189,587.54. The trade was a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neena M. Patil sold 3,800 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total value of $550,506.00. Following the completion of the sale, the executive vice president now owns 33,318 shares of the company's stock, valued at $4,826,778.66. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,236 shares of company stock worth $3,839,840 over the last quarter. Corporate insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JAZZ shares. Barclays reissued an "overweight" rating and issued a $200.00 price target (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright boosted their price target on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Piper Sandler restated an "overweight" rating and issued a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, February 26th. 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $210.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $187.71.

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.