Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Sees Significant Increase in Short Interest

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 3,820,000 shares, an increase of 6.4% from the October 31st total of 3,590,000 shares. Currently, 6.6% of the company’s stock are short sold. Based on an average daily volume of 707,100 shares, the days-to-cover ratio is presently 5.4 days.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total transaction of $242,340.00. Following the transaction, the chief executive officer now owns 427,025 shares in the company, valued at $51,742,619.25. This trade represents a 0.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Neena M. Patil sold 3,700 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $123.41, for a total value of $456,617.00. Following the completion of the transaction, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. The trade was a 10.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,163 shares of company stock valued at $968,992. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in Jazz Pharmaceuticals during the third quarter worth approximately $3,197,000. Swedbank AB bought a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter worth about $106,936,000. Pacer Advisors Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 15.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,099,378 shares of the specialty pharmaceutical company’s stock valued at $233,892,000 after buying an additional 278,465 shares during the period. Philip James Wealth Mangement LLC acquired a new position in Jazz Pharmaceuticals during the 3rd quarter valued at about $830,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Jazz Pharmaceuticals by 42.7% in the 2nd quarter. Victory Capital Management Inc. now owns 205,492 shares of the specialty pharmaceutical company’s stock worth $21,932,000 after acquiring an additional 61,458 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and set a $163.00 price objective (down previously from $166.00) on shares of Jazz Pharmaceuticals in a report on Thursday, November 21st. TD Cowen reduced their price objective on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating and set a $140.00 price target on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Robert W. Baird raised their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Royal Bank of Canada lifted their target price on Jazz Pharmaceuticals from $175.00 to $179.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.33.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ opened at $123.45 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. Jazz Pharmaceuticals has a 12 month low of $99.06 and a 12 month high of $134.17. The firm has a market capitalization of $7.46 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The business’s fifty day moving average price is $115.69 and its 200 day moving average price is $111.38.

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.