Jazz Pharmaceuticals (NASDAQ:JAZZ) Shares Down 6.1% – Time to Sell?

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)’s stock price traded down 6.1% on Tuesday . The stock traded as low as $162.60 and last traded at $163.7750. 1,162,583 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 971,298 shares. The stock had previously closed at $174.39.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of Jazz Pharmaceuticals from $230.00 to $247.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada set a $194.00 price target on shares of Jazz Pharmaceuticals and gave the stock an “outperform” rating in a report on Monday, November 17th. UBS Group reaffirmed a “neutral” rating and set a $188.00 price objective (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Monday, November 24th. Wells Fargo & Company upped their target price on shares of Jazz Pharmaceuticals from $170.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Monday, December 29th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.47.

Jazz Pharmaceuticals Stock Performance

The firm has a market capitalization of $10.08 billion, a P/E ratio of -27.32, a PEG ratio of 0.81 and a beta of 0.27. The company has a 50-day simple moving average of $161.64 and a two-hundred day simple moving average of $136.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.44 and a current ratio of 1.65.

Insider Buying and Selling

In other news, EVP Robert Iannone sold 7,159 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $168.26, for a total value of $1,204,573.34. Following the sale, the executive vice president directly owned 72,628 shares of the company’s stock, valued at $12,220,387.28. The trade was a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Patricia Carr sold 5,319 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $182.06, for a total value of $968,377.14. Following the completion of the sale, the chief accounting officer owned 7,012 shares in the company, valued at $1,276,604.72. The trade was a 43.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 123,791 shares of company stock worth $21,991,850 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Jazz Pharmaceuticals by 11.8% during the third 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 increased its stake in Jazz Pharmaceuticals by 0.4% during the 3rd quarter. Capital World Investors now owns 2,554,867 shares of the specialty pharmaceutical company’s stock valued at $336,731,000 after purchasing an additional 10,345 shares in the last quarter. LSV Asset Management raised its holdings in Jazz Pharmaceuticals by 3.6% in the second quarter. LSV Asset Management now owns 2,553,742 shares of the specialty pharmaceutical company’s stock worth $271,003,000 after buying an additional 87,576 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Jazz Pharmaceuticals by 11.4% in the second quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock worth $198,159,000 after buying an additional 191,637 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Jazz Pharmaceuticals by 8.5% in the third 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 in the last quarter. 89.14% of the stock is owned by institutional investors.

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.