GMT Capital Corp Sells 154,300 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• GMT Capital Corp cut its Jazz Pharmaceuticals stake by 19.5% in the fourth quarter, selling 154,300 shares and leaving it with 638,500 shares worth about $108.5 million.
• Jazz Pharmaceuticals reported quarterly EPS of $6.34 on revenue of $1.07 billion, while analysts currently maintain a Moderate Buy consensus with an average price target of $246.06.
• Investor sentiment was pressured by news that Jazz’s Phase 3 LAGOON trial for Zepzelca missed its primary overall survival endpoint in second-line small cell lung cancer, raising uncertainty around a key oncology drug.

GMT Capital Corp decreased its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 638,500 shares of the specialty pharmaceutical company's stock after selling 154,300 shares during the quarter. Jazz Pharmaceuticals makes up approximately 5.7% of GMT Capital Corp's portfolio, making the stock its 4th biggest position. GMT Capital Corp owned 1.05% of Jazz Pharmaceuticals worth $108,545,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Jazz Pharmaceuticals by 11.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company's stock valued at $373,855,000 after acquiring an additional 298,815 shares in the last quarter. Capital World Investors boosted its holdings in shares of Jazz Pharmaceuticals by 4.4% during the 4th quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company's stock valued at $453,322,000 after acquiring an additional 111,735 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 11.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock valued at $198,159,000 after acquiring an additional 191,637 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Jazz Pharmaceuticals by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company's stock worth $246,092,000 after buying an additional 145,865 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Jazz Pharmaceuticals by 164.0% during the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after buying an additional 1,129,995 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $230.56 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The stock has a 50 day moving average price of $217.61 and a two-hundred day moving average price of $188.84. The firm has a market capitalization of $14.48 billion, a P/E ratio of -11,522.24, a P/E/G ratio of 0.20 and a beta of 0.32. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $243.32.

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

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total transaction of $278,196.00. Following the sale, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total value of $1,143,000.00. Following the sale, the director owned 384,682 shares in the company, valued at approximately $73,281,921. This represents a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,941 shares of company stock worth $2,565,339 in the last ninety days. Company insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on JAZZ. Morgan Stanley reaffirmed an "overweight" rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. TD Cowen lifted their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Bank of America lifted their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Wednesday. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $246.06.

Key Stories Impacting Jazz Pharmaceuticals

Here are the key news stories impacting Jazz Pharmaceuticals this week:

• Negative Sentiment: Jazz Pharmaceuticals said the Phase 3 LAGOON trial for Zepzelca did not meet its primary endpoint of overall survival in second-line small cell lung cancer. Jazz Pharmaceuticals Provides Update on Zepzelca (lurbinectedin) Phase 3 LAGOON Trial in Second-Line Small Cell Lung Cancer
• Negative Sentiment: Reuters reported the trial failure could put Zepzelca’s current regulatory status at risk, raising uncertainty around a key oncology asset. Jazz Pharmaceuticals lung cancer drug fails main trial goal
• Negative Sentiment: Industry coverage from multiple outlets reinforced the setback, suggesting investor concern may persist until Jazz clarifies next steps for Zepzelca. Jazz Pharma announces late-stage trial setback for lung cancer therapy
• Negative Sentiment: FiercePharma noted the latest twist in the Zepzelca saga, highlighting the importance of the drug to Jazz’s cancer franchise and the market’s negative reaction to the failure. In latest twist in Zepzelca saga, Jazz and PharmaMar lung cancer drug fails phase 3 test
• Negative Sentiment: Separately, an SEC filing showed EVP Neena M. Patil sold 1,200 shares earlier this week, a small insider sale that may add to cautious sentiment. Jazz Pharmaceuticals PLC EVP Neena M. Patil sold shares
• Neutral Sentiment: Some recent commentary still frames Jazz as a value stock with a “moderate buy” analyst consensus, but this is being overshadowed by the trial disappointment. Why Jazz Pharmaceuticals (JAZZ) is a Top Value Stock for the Long-Term

Jazz Pharmaceuticals Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.