Jazz Pharmaceuticals (NASDAQ:JAZZ) Trading Down 5.4% - Should You Sell?

Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Get Free Report) was down 5.4% during mid-day trading on Tuesday . The company traded as low as $134.46 and last traded at $134.31. Approximately 633,454 shares changed hands during trading, a decline of 10% from the average daily volume of 704,698 shares. The stock had previously closed at $142.02.

Analyst Ratings Changes

A number of research analysts recently commented on JAZZ shares. Wells Fargo & Company raised Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Truist Financial increased their price target on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. UBS Group raised shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. HC Wainwright upped their price objective on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Finally, Cantor Fitzgerald cut shares of Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $187.71.

Jazz Pharmaceuticals Stock Performance

The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average price of $132.30 and a 200-day moving average price of $122.54. The stock has a market capitalization of $7.47 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.04 and a beta of 0.44.

Insider Activity

In other news, EVP Neena M. Patil sold 3,800 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $144.87, for a total transaction of $550,506.00. Following the completion of the sale, the executive vice president now owns 33,318 shares in the company, valued at approximately $4,826,778.66. This represents a 10.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Robert Iannone sold 7,080 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $138.60, for a total transaction of $981,288.00. Following the sale, the chief marketing officer now directly owns 82,024 shares in the company, valued at approximately $11,368,526.40. This represents a 7.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,736 shares of company stock worth $4,022,825. Corporate insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $25,000. Quadrant Capital Group LLC raised its holdings in Jazz Pharmaceuticals by 97.1% in the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock valued at $25,000 after buying an additional 101 shares during the period. Elequin Capital LP lifted its position in Jazz Pharmaceuticals by 677.8% in the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company's stock valued at $26,000 after buying an additional 183 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $28,000. Finally, Allianz SE purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth $29,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

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.