Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Jazz reported mixed results in the third quarter of 2017 with earnings beating estimates while revenues missing the same. The company lowered its earnings guidance for 2017, mainly due to lower-than-expected sales from Xyrem. The drug also is facing patent challenges in the United States. Moreover, restricted access to distribution channels for Xyrem is another matter of concern. Additionally, Jazz has also been facing challenges in building sufficient inventory levels for leukemia drug, Erwinaze, due to constrained manufacturing capacity. The company has its share of pipeline setbacks too. However, its lead pipeline candidate, JZP-110, currently evaluated for treatment of EDS, complements its existing sleep disorder portfolio. Nonetheless, the FDA approval of, Vyxeos in August, lends huge boost to the company, given its huge commercial potential in the target market.”
Other research analysts also recently issued reports about the stock. Piper Jaffray Companies set a $182.00 price target on shares of Jazz Pharmaceuticals PLC and gave the stock a “buy” rating in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. Deutsche Bank AG set a $178.00 price target on shares of Jazz Pharmaceuticals PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Wells Fargo & Company restated an “outperform” rating and issued a $177.00 price target (down from $178.00) on shares of Jazz Pharmaceuticals PLC in a research report on Thursday, August 10th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $190.00 price objective on shares of Jazz Pharmaceuticals PLC in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company. Jazz Pharmaceuticals PLC has an average rating of “Buy” and an average target price of $180.13.
Jazz Pharmaceuticals PLC (JAZZ) traded up $3.39 during trading on Friday, hitting $138.70. 551,900 shares of the stock were exchanged, compared to its average volume of 518,261. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.94 and a current ratio of 3.10. Jazz Pharmaceuticals PLC has a one year low of $99.28 and a one year high of $163.75. The company has a market cap of $8,320.00, a P/E ratio of 17.40, a P/E/G ratio of 0.82 and a beta of 1.00.
In other news, EVP Michael Patrick Miller sold 200 shares of Jazz Pharmaceuticals PLC stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $144.38, for a total value of $28,876.00. Following the transaction, the executive vice president now owns 21,996 shares of the company’s stock, valued at approximately $3,175,782.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals PLC stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $153.52, for a total transaction of $153,520.00. The disclosure for this sale can be found here. Insiders sold a total of 2,551 shares of company stock worth $384,484 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in JAZZ. Toronto Dominion Bank grew its stake in shares of Jazz Pharmaceuticals PLC by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 736 shares of the specialty pharmaceutical company’s stock worth $114,000 after purchasing an additional 81 shares during the last quarter. US Bancorp DE grew its stake in shares of Jazz Pharmaceuticals PLC by 94.4% in the 2nd quarter. US Bancorp DE now owns 758 shares of the specialty pharmaceutical company’s stock worth $118,000 after purchasing an additional 368 shares during the last quarter. Gargoyle Investment Advisor L.L.C. purchased a new position in shares of Jazz Pharmaceuticals PLC in the second quarter worth approximately $206,000. Advisor Group Inc. increased its position in shares of Jazz Pharmaceuticals PLC by 62.4% in the third quarter. Advisor Group Inc. now owns 1,431 shares of the specialty pharmaceutical company’s stock worth $210,000 after acquiring an additional 550 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Jazz Pharmaceuticals PLC in the second quarter worth approximately $211,000. 88.91% of the stock is currently owned by institutional investors.
About Jazz Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
Receive News & Ratings for Jazz Pharmaceuticals PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jazz Pharmaceuticals PLC and related companies with MarketBeat.com's FREE daily email newsletter.