Rhenman & Partners Asset Management AB cut its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Free Report) by 22.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 74,030 shares of the specialty pharmaceutical company’s stock after selling 21,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Jazz Pharmaceuticals were worth $12,585,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the business. Federation des caisses Desjardins du Quebec grew its holdings in shares of Jazz Pharmaceuticals by 16.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,166 shares of the specialty pharmaceutical company’s stock valued at $878,000 after acquiring an additional 721 shares in the last quarter. HRT Financial LP bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $1,033,000. Brooklyn Investment Group grew its holdings in shares of Jazz Pharmaceuticals by 56.1% in the fourth quarter. Brooklyn Investment Group now owns 3,043 shares of the specialty pharmaceutical company’s stock valued at $519,000 after acquiring an additional 1,093 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Jazz Pharmaceuticals by 6.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,887 shares of the specialty pharmaceutical company’s stock valued at $2,191,000 after acquiring an additional 769 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Jazz Pharmaceuticals by 21.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,219 shares of the specialty pharmaceutical company’s stock valued at $7,347,000 after acquiring an additional 7,570 shares in the last quarter. 89.14% of the stock is owned by institutional investors.
Analyst Ratings Changes
JAZZ has been the subject of several recent analyst reports. Piper Sandler upped their target price on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Leerink Partners upped their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Weiss Ratings raised Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Truist Financial set a $256.00 price objective on Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $246.06.
Jazz Pharmaceuticals News Roundup
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
Insider Transactions at Jazz Pharmaceuticals
In related news, Director Bruce C. Cozadd sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 384,682 shares in the company, valued at approximately $73,281,921. This represents a 1.54% 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, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the completion of the transaction, the executive vice president owned 51,549 shares in the company, valued at approximately $11,950,604.67. The trade was a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.
Jazz Pharmaceuticals Price Performance
Jazz Pharmaceuticals stock opened at $230.56 on Friday. Jazz Pharmaceuticals PLC has a 12 month low of $105.00 and a 12 month high of $243.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $217.61 and its 200 day simple moving average is $188.84. The company has a market cap of $14.48 billion, a price-to-earnings ratio of -11,522.24, a PEG ratio of 0.21 and a beta of 0.32.
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The business had revenue of $1.07 billion for the quarter. Sell-side analysts forecast that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current year.
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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