State of Alaska Department of Revenue Boosts Stake in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• The State of Alaska Department of Revenue increased its stake in Jazz Pharmaceuticals by 75.1% in the second quarter, owning 57,933 shares worth approximately $6.1 million by the end of the quarter.
• Research analysts have issued positive ratings for Jazz Pharmaceuticals, with fourteen analysts rating it a Buy and raising target prices, indicating growing confidence in the company's stock.
• Despite a revenue of $1.05 billion, Jazz Pharmaceuticals reported an earnings per share (EPS) loss of ($8.25), missing consensus estimates significantly.

State of Alaska Department of Revenue grew its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 75.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,933 shares of the specialty pharmaceutical company's stock after buying an additional 24,850 shares during the period. State of Alaska Department of Revenue owned 0.10% of Jazz Pharmaceuticals worth $6,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional purchased a new position in shares of Jazz Pharmaceuticals in the first quarter worth $4,316,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Jazz Pharmaceuticals by 38.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,369 shares of the specialty pharmaceutical company's stock worth $542,000 after purchasing an additional 1,223 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Jazz Pharmaceuticals during the first quarter worth $689,000. Baird Financial Group Inc. purchased a new position in shares of Jazz Pharmaceuticals during the first quarter worth $539,000. Finally, GAMMA Investing LLC raised its holdings in shares of Jazz Pharmaceuticals by 63.7% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the specialty pharmaceutical company's stock worth $126,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on JAZZ shares. Zacks Research raised shares of Jazz Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Truist Financial raised their target price on shares of Jazz Pharmaceuticals from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. The Goldman Sachs Group raised their target price on shares of Jazz Pharmaceuticals from $162.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Jazz Pharmaceuticals in a report on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Jazz Pharmaceuticals from $145.00 to $151.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $178.93.

Jazz Pharmaceuticals Stock Down 0.6%

JAZZ opened at $127.00 on Monday. Jazz Pharmaceuticals PLC has a fifty-two week low of $95.49 and a fifty-two week high of $148.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.37 and a current ratio of 1.62. The company has a fifty day moving average of $121.92 and a two-hundred day moving average of $115.67. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of -18.87, a PEG ratio of 7.87 and a beta of 0.24.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.61) by ($2.64). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.30 EPS. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. On average, research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other news, Director Bruce C. Cozadd sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.62, for a total transaction of $771,720.00. Following the completion of the sale, the director owned 429,973 shares of the company's stock, valued at $55,303,127.26. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by corporate insiders.

About Jazz Pharmaceuticals

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.

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