Cinctive Capital Management LP Trims Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Cinctive Capital Management LP cut its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 62.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,765 shares of the specialty pharmaceutical company’s stock after selling 80,382 shares during the quarter. Cinctive Capital Management LP’s holdings in Jazz Pharmaceuticals were worth $5,882,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $25,000. CoreFirst Bank & Trust purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at $28,000. Allianz SE bought a new position in Jazz Pharmaceuticals in the 4th quarter valued at $29,000. Jones Financial Companies Lllp increased its stake in Jazz Pharmaceuticals by 75.1% in the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company’s stock worth $37,000 after purchasing an additional 130 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Jazz Pharmaceuticals by 70.9% during the fourth quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company’s stock worth $38,000 after purchasing an additional 129 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Stock Up 0.7 %

Jazz Pharmaceuticals stock opened at $124.99 on Wednesday. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $148.06. The business’s 50-day moving average price is $132.43 and its 200 day moving average price is $122.90. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.04 and a beta of 0.44.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total value of $185,145.00. Following the transaction, the chief executive officer now owns 425,525 shares in the company, valued at $52,522,550.75. This trade represents a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Neena M. Patil sold 3,800 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $144.87, for a total value of $550,506.00. Following the sale, the executive vice president now owns 33,318 shares of the company’s stock, valued at $4,826,778.66. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,736 shares of company stock valued at $4,022,825. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on JAZZ shares. UBS Group raised shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. Morgan Stanley restated an “overweight” rating and issued a $183.00 price objective (up from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald downgraded shares of Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 26th. Barclays reissued an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Finally, HC Wainwright upped their target price on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $187.71.

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.