Readystate Asset Management LP Sells 5,558 Shares of Jazz Pharmaceuticals PLC $JAZZ

Readystate Asset Management LP lowered its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 31.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,251 shares of the specialty pharmaceutical company’s stock after selling 5,558 shares during the period. Readystate Asset Management LP’s holdings in Jazz Pharmaceuticals were worth $1,615,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Todd Asset Management LLC acquired a new stake in shares of Jazz Pharmaceuticals during the third quarter worth $556,000. JPMorgan Chase & Co. boosted its stake in Jazz Pharmaceuticals by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company’s stock worth $246,092,000 after purchasing an additional 145,865 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Jazz Pharmaceuticals by 4.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,255 shares of the specialty pharmaceutical company’s stock worth $2,801,000 after purchasing an additional 964 shares in the last quarter. Aberdeen Group plc acquired a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at about $8,629,000. Finally, BTC Capital Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 2.5% in the third quarter. BTC Capital Management Inc. now owns 51,721 shares of the specialty pharmaceutical company’s stock valued at $6,817,000 after purchasing an additional 1,243 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on JAZZ shares. Needham & Company LLC increased their price objective on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating and set a $219.00 price target (up from $147.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Jazz Pharmaceuticals from $170.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Truist Financial increased their target price on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Robert W. Baird raised their target price on shares of Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Fourteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.67.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $167.98 on Wednesday. The company has a fifty day moving average price of $167.66 and a two-hundred day moving average price of $148.16. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $182.99. The stock has a market cap of $10.21 billion, a P/E ratio of -27.67, a P/E/G ratio of 0.89 and a beta of 0.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.65 and a quick ratio of 1.44.

Insiders Place Their Bets

In other news, Director Bruce C. Cozadd sold 77,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $177.81, for a total value of $13,780,275.00. Following the completion of the sale, the director directly owned 393,332 shares of the company’s stock, valued at $69,938,362.92. This trade represents a 16.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Patricia Carr sold 4,660 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $171.20, for a total value of $797,792.00. Following the transaction, the chief accounting officer owned 7,012 shares of the company’s stock, valued at $1,200,454.40. This represents a 39.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 87,813 shares of company stock worth $15,564,549. Company insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.