Short Interest in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Declines By 10.9%

Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Get Free Report) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 2,040,000 shares, a decrease of 10.9% from the July 31st total of 2,290,000 shares. Based on an average trading volume of 734,200 shares, the short-interest ratio is presently 2.8 days. Currently, 3.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals by 55.1% during the second quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company's stock valued at $30,000 after purchasing an additional 97 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Jazz Pharmaceuticals by 0.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,082 shares of the specialty pharmaceutical company's stock worth $1,937,000 after buying an additional 99 shares during the period. ProShare Advisors LLC grew its holdings in Jazz Pharmaceuticals by 1.4% during the 1st quarter. ProShare Advisors LLC now owns 7,439 shares of the specialty pharmaceutical company's stock worth $896,000 after acquiring an additional 105 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Jazz Pharmaceuticals by 0.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 29,749 shares of the specialty pharmaceutical company's stock valued at $3,659,000 after acquiring an additional 108 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of Jazz Pharmaceuticals by 1.1% during the first quarter. Pinnacle Associates Ltd. now owns 10,371 shares of the specialty pharmaceutical company's stock valued at $1,249,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ traded up $0.38 during midday trading on Friday, reaching $115.98. 365,743 shares of the company were exchanged, compared to its average volume of 494,747. The stock's 50-day moving average price is $109.54 and its 200-day moving average price is $112.79. The stock has a market cap of $7.16 billion, a P/E ratio of 23.91, a PEG ratio of 1.45 and a beta of 0.58. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.36. Jazz Pharmaceuticals has a one year low of $99.06 and a one year high of $146.70.

Analyst Upgrades and Downgrades

JAZZ has been the topic of several recent research reports. StockNews.com raised shares of Jazz Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an "overweight" rating in a research note on Monday, August 19th. Needham & Company LLC cut their target price on Jazz Pharmaceuticals from $208.00 to $205.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Morgan Stanley decreased their price target on Jazz Pharmaceuticals from $160.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company cut their price objective on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an "equal weight" rating for the company in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $173.07.

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.

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