Jazz Pharmaceuticals (NASDAQ:JAZZ) Shares Gap Down to $112.68

Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $112.68, but opened at $108.39. Jazz Pharmaceuticals shares last traded at $108.01, with a volume of 238,198 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JAZZ shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $180.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, April 10th. HC Wainwright reaffirmed a "buy" rating and issued a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday, May 3rd. Barclays reduced their price target on Jazz Pharmaceuticals from $230.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. UBS Group reduced their price target on Jazz Pharmaceuticals from $135.00 to $131.00 and set a "neutral" rating for the company in a report on Friday, March 1st. Finally, Piper Sandler increased their price target on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the company an "overweight" rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.00.

Jazz Pharmaceuticals Trading Down 4.7 %

The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.90 and a current ratio of 2.27. The business has a fifty day simple moving average of $109.25 and a 200 day simple moving average of $117.39. The company has a market cap of $6.77 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.73 and a beta of 0.62.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share for the quarter, missing analysts' consensus estimates of $3.53 by ($1.55). The company had revenue of $901.98 million for the quarter, compared to analyst estimates of $938.99 million. Jazz Pharmaceuticals had a return on equity of 27.86% and a net margin of 8.61%. Analysts anticipate that Jazz Pharmaceuticals plc will post 15.35 earnings per share for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 5,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.65, for a total transaction of $548,250.00. Following the sale, the executive vice president now directly owns 36,629 shares in the company, valued at approximately $4,016,369.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Institutional Trading of Jazz Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its position in Jazz Pharmaceuticals by 26.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 115,308 shares of the specialty pharmaceutical company's stock valued at $13,938,000 after acquiring an additional 23,768 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in Jazz Pharmaceuticals by 45.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 161,388 shares of the specialty pharmaceutical company's stock valued at $19,434,000 after acquiring an additional 50,300 shares during the period. Virtu Financial LLC increased its position in Jazz Pharmaceuticals by 31.8% in the 1st quarter. Virtu Financial LLC now owns 11,696 shares of the specialty pharmaceutical company's stock valued at $1,408,000 after acquiring an additional 2,819 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Jazz Pharmaceuticals during the 1st quarter valued at $228,000. Finally, Tidal Investments LLC increased its position in shares of Jazz Pharmaceuticals by 179.4% during the 1st quarter. Tidal Investments LLC now owns 16,655 shares of the specialty pharmaceutical company's stock valued at $2,006,000 after purchasing an additional 10,693 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

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.