Zacks Investment Research lowered shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) from a hold rating to a sell rating in a report published on Friday morning.
According to Zacks, “Jazz reported mixed results in the third quarter of 2017 with earnings beating estimates while revenues missing the same. The company lowered its earnings guidance for 2017, mainly due to lower-than-expected sales from Xyrem. The drug also is facing patent challenges in the United States. Moreover, restricted access to distribution channels for Xyrem is another matter of concern. Additionally, Jazz has also been facing challenges in building sufficient inventory levels for leukemia drug, Erwinaze, due to constrained manufacturing capacity. The company has its share of pipeline setbacks too. However, its lead pipeline candidate, JZP-110, currently evaluated for treatment of EDS, complements its existing sleep disorder portfolio. Nonetheless, the FDA approval of, Vyxeos in August, lends huge boost to the company, given its huge commercial potential in the target market.”
Other equities analysts have also issued reports about the stock. Deutsche Bank AG set a $175.00 price target on shares of Jazz Pharmaceuticals PLC and gave the company a buy rating in a research report on Wednesday, August 9th. Royal Bank Of Canada restated a buy rating on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. Janney Montgomery Scott restated a buy rating and issued a $192.00 price target (up from $180.00) on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. Cowen and Company set a $190.00 price target on shares of Jazz Pharmaceuticals PLC and gave the company a buy rating in a research report on Monday, August 21st. Finally, Piper Jaffray Companies restated a buy rating and issued a $177.00 price target on shares of Jazz Pharmaceuticals PLC in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company’s stock. Jazz Pharmaceuticals PLC presently has an average rating of Buy and a consensus price target of $180.13.
Jazz Pharmaceuticals PLC (JAZZ) traded down $0.21 during trading hours on Friday, reaching $136.26. 109,428 shares of the company’s stock were exchanged, compared to its average volume of 522,136. The firm has a market capitalization of $8,180.00, a price-to-earnings ratio of 17.40, a PEG ratio of 0.82 and a beta of 1.00. Jazz Pharmaceuticals PLC has a 52-week low of $99.28 and a 52-week high of $163.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.94 and a current ratio of 3.10.
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In other Jazz Pharmaceuticals PLC news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $150,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick G. Enright sold 351 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $148.40, for a total transaction of $52,088.40. Following the completion of the sale, the director now directly owns 1,717 shares of the company’s stock, valued at approximately $254,802.80. The disclosure for this sale can be found here. Insiders sold 2,351 shares of company stock valued at $355,608 in the last ninety days. Insiders own 4.30% of the company’s stock.
A number of large investors have recently modified their holdings of JAZZ. Janus Henderson Group PLC increased its stake in Jazz Pharmaceuticals PLC by 11,990.7% in the second quarter. Janus Henderson Group PLC now owns 873,919 shares of the specialty pharmaceutical company’s stock valued at $135,894,000 after purchasing an additional 866,691 shares in the last quarter. FMR LLC increased its stake in Jazz Pharmaceuticals PLC by 11.4% in the second quarter. FMR LLC now owns 8,290,410 shares of the specialty pharmaceutical company’s stock valued at $1,289,159,000 after purchasing an additional 849,348 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Jazz Pharmaceuticals PLC by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 1,405,408 shares of the specialty pharmaceutical company’s stock valued at $218,540,000 after purchasing an additional 410,031 shares in the last quarter. Schroder Investment Management Group bought a new stake in Jazz Pharmaceuticals PLC in the third quarter valued at approximately $52,571,000. Finally, American Century Companies Inc. increased its stake in Jazz Pharmaceuticals PLC by 133.2% in the second quarter. American Century Companies Inc. now owns 549,900 shares of the specialty pharmaceutical company’s stock valued at $85,509,000 after purchasing an additional 314,094 shares in the last quarter. 88.91% of the stock is owned by hedge funds and other institutional investors.
Jazz Pharmaceuticals PLC Company Profile
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
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