Jazz Pharmaceuticals (NASDAQ:JAZZ) Reaches New 12-Month Low - Here's What Happened

Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $95.49 and last traded at $110.12, with a volume of 2648109 shares trading hands. The stock had previously closed at $102.82.

Analyst Ratings Changes

JAZZ has been the subject of a number of recent research reports. Wells Fargo & Company raised Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Barclays restated an "overweight" rating and set a $200.00 price target (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. UBS Group raised shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $145.00 to $179.00 in a research note on Friday, March 7th. Finally, Morgan Stanley restated an "overweight" rating and set a $183.00 target price (up from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $187.71.

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Jazz Pharmaceuticals Stock Up 0.8 %

The firm has a 50-day moving average price of $129.67 and a two-hundred day moving average price of $122.77. The company has a market capitalization of $6.15 billion, a P/E ratio of 14.27, a PEG ratio of 1.04 and a beta of 0.42. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Insiders Place Their Bets

In related news, CMO Robert Iannone sold 7,080 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total value of $981,288.00. Following the completion of the sale, the chief marketing officer now owns 82,024 shares in the company, valued at approximately $11,368,526.40. This trade represents a 7.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,500 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.31, for a total value of $183,465.00. Following the transaction, the chief executive officer now owns 439,744 shares in the company, valued at $53,785,088.64. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,736 shares of company stock worth $4,023,305 in the last ninety days. Insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. bought a new stake in Jazz Pharmaceuticals in the first quarter valued at about $318,000. UMB Bank n.a. boosted its holdings in Jazz Pharmaceuticals by 116.4% during the first quarter. UMB Bank n.a. now owns 673 shares of the specialty pharmaceutical company's stock valued at $84,000 after purchasing an additional 362 shares in the last quarter. Radnor Capital Management LLC grew its stake in shares of Jazz Pharmaceuticals by 7.8% in the 1st quarter. Radnor Capital Management LLC now owns 8,540 shares of the specialty pharmaceutical company's stock valued at $1,060,000 after purchasing an additional 615 shares during the period. Lmcg Investments LLC raised its holdings in shares of Jazz Pharmaceuticals by 63.6% in the 1st quarter. Lmcg Investments LLC now owns 74,370 shares of the specialty pharmaceutical company's stock worth $9,233,000 after buying an additional 28,907 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Jazz Pharmaceuticals by 5.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 37,802 shares of the specialty pharmaceutical company's stock worth $4,693,000 after buying an additional 1,908 shares during the period. 89.14% of the stock is owned by institutional investors.

Jazz Pharmaceuticals Company Profile

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.