Jazz Pharmaceuticals PLC $JAZZ Shares Sold by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management reduced its Jazz Pharmaceuticals position by 62.5% in the first quarter, selling 5,000 shares and retaining 3,000 shares valued at approximately $567,000.
• Despite ADAR1’s reduction, several major institutions increased their holdings, and institutional investors collectively own 89.14% of JAZZ.
• Jazz Pharmaceuticals reported quarterly revenue of $1.07 billion and earnings of $6.34 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $259.06, near the stock’s reported $255.97 opening price.

ADAR1 Capital Management LLC cut its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 62.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the specialty pharmaceutical company's stock after selling 5,000 shares during the quarter. ADAR1 Capital Management LLC's holdings in Jazz Pharmaceuticals were worth $567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestal Point Capital LP acquired a new stake in Jazz Pharmaceuticals during the 2nd quarter worth approximately $127,344,000. Franklin Resources Inc. increased its position in shares of Jazz Pharmaceuticals by 164.0% in the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after acquiring an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Jazz Pharmaceuticals by 160.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock worth $197,516,000 after acquiring an additional 715,361 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock valued at $93,160,000 after acquiring an additional 395,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 592.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company's stock valued at $57,523,000 after acquiring an additional 373,383 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $255.97 on Thursday. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of -12,792.10, a PEG ratio of 0.23 and a beta of 0.32. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The business's 50 day moving average is $238.62 and its two-hundred day moving average is $205.35. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $261.30.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The business had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. Analysts forecast that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on JAZZ shares. Truist Financial cut their price objective on Jazz Pharmaceuticals from $256.00 to $254.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. TD Cowen increased their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an "overweight" rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. Finally, Weiss Ratings raised Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the transaction, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rick E. Winningham sold 2,741 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.57, for a total value of $662,143.37. Following the sale, the director owned 9,567 shares in the company, valued at $2,311,100.19. The trade was a 22.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,098 shares of company stock worth $3,131,906 over the last 90 days. Company insiders own 4.10% of the company's stock.

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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