ExodusPoint Capital Management LP Buys 116,542 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• ExodusPoint Capital Management significantly increased its stake in Jazz Pharmaceuticals, buying 116,542 shares in the fourth quarter and lifting its holdings by 554.8% to 137,550 shares worth about $23.4 million.
• Several analysts remain bullish on JAZZ, with firms like Bank of America and UBS raising price targets to $307; the stock currently carries a consensus rating of Moderate Buy with an average target of $246.06.
• Insider selling has also been active, including recent sales by Director Heather Ann McSharry and EVP Neena M. Patil, while Jazz shares traded near their 52-week high at $226.88.

ExodusPoint Capital Management LP grew its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 554.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,550 shares of the specialty pharmaceutical company's stock after purchasing an additional 116,542 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.23% of Jazz Pharmaceuticals worth $23,384,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in JAZZ. Hilltop National Bank bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $36,000. LRI Investments LLC bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $38,000. Danske Bank A S bought a new position in shares of Jazz Pharmaceuticals during the third quarter worth approximately $40,000. Geneos Wealth Management Inc. increased its stake in shares of Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Jazz Pharmaceuticals by 1,383.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company's stock worth $47,000 after purchasing an additional 332 shares during the period. Institutional investors own 89.14% of the company's stock.

Analysts Set New Price Targets

JAZZ has been the topic of a number of recent research reports. Bank of America increased their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. UBS Group upgraded Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their target price for the stock from $188.00 to $307.00 in a research note on Tuesday, May 19th. Leerink Partners increased their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Truist Financial set a $256.00 target price on Jazz Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, TD Cowen increased their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $246.06.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, Director Heather Ann Mcsharry sold 2,000 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $482,000.00. Following the transaction, the director owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares in the company, valued at approximately $11,950,604.67. This trade represents a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,941 shares of company stock worth $2,565,339 in the last quarter. Insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock opened at $226.88 on Wednesday. The stock's fifty day moving average price is $219.28 and its two-hundred day moving average price is $189.60. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $243.32. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The firm has a market cap of $14.25 billion, a PE ratio of -11,338.33, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The firm had revenue of $1.07 billion for the quarter. As a group, research analysts expect that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company's research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz's product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.

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