Assenagon Asset Management S.A. Invests $60.50 Million in Jazz Pharmaceuticals PLC $JAZZ

Assenagon Asset Management S.A. bought a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) during the first quarter, Holdings Channel reports. The fund bought 320,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $60,496,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vestal Point Capital LP purchased a new stake in Jazz Pharmaceuticals during the 2nd quarter worth approximately $127,344,000. Goldentree Asset Management LP acquired a new position in Jazz Pharmaceuticals in the 3rd quarter valued at $149,597,000. Franklin Resources Inc. raised its stake in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after purchasing an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Jazz Pharmaceuticals by 160.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after purchasing an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock valued at $93,160,000 after purchasing an additional 395,000 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $245.00 target price on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. Royal Bank Of Canada raised their price target on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Truist Financial set a $256.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, TD Cowen raised their target price on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.06.

Jazz Pharmaceuticals Trading Down 1.6%

Shares of Jazz Pharmaceuticals stock opened at $226.20 on Friday. The stock has a 50 day moving average of $223.80 and a 200 day moving average of $192.37. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of -11,304.35, a PEG ratio of 0.20 and a beta of 0.32. Jazz Pharmaceuticals PLC has a fifty-two week low of $105.00 and a fifty-two week high of $243.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The company had revenue of $1.07 billion for the quarter. As a group, research analysts predict that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the sale, the director directly owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Douglas Smith sold 1,157 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,098 shares of company stock worth $2,832,086 in the last 90 days. Insiders own 4.10% of the company’s stock.

About Jazz Pharmaceuticals

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.