Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is Vestal Point Capital LP’s 2nd Largest Position

Vestal Point Capital LP cut its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 40.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 900,000 shares of the specialty pharmaceutical company’s stock after selling 600,000 shares during the period. Jazz Pharmaceuticals makes up about 7.6% of Vestal Point Capital LP’s investment portfolio, making the stock its 2nd largest holding. Vestal Point Capital LP’s holdings in Jazz Pharmaceuticals were worth $100,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB purchased a new position in shares of Jazz Pharmaceuticals during the second quarter valued at approximately $106,936,000. Rubric Capital Management LP purchased a new position in Jazz Pharmaceuticals during the second quarter valued at $65,812,000. Pacer Advisors Inc. grew its stake in Jazz Pharmaceuticals by 40.7% during the second quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock valued at $194,346,000 after acquiring an additional 527,187 shares in the last quarter. Baupost Group LLC MA increased its holdings in Jazz Pharmaceuticals by 52.8% in the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock valued at $136,000,000 after acquiring an additional 440,552 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Jazz Pharmaceuticals by 1,808.4% in the 2nd quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company’s stock worth $48,122,000 after purchasing an additional 427,246 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Trading Down 0.1 %

Shares of JAZZ opened at $122.64 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.03 and a beta of 0.57. The company has a 50-day moving average of $114.66 and a 200 day moving average of $111.07. Jazz Pharmaceuticals plc has a 1-year low of $99.06 and a 1-year high of $134.17.

Insider Activity

In related news, EVP Neena M. Patil sold 3,700 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the sale, the executive vice president now owns 33,048 shares of the company’s stock, valued at $4,078,453.68. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the chief executive officer now owns 428,976 shares of the company’s stock, valued at $47,547,699.84. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,110 shares of company stock valued at $720,160. Corporate insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

JAZZ has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $163.00 target price (down from $166.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, November 21st. TD Cowen cut their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Wells Fargo & Company reduced their target price on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com raised shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.33.

About Jazz Pharmaceuticals

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.