Zacks Investment Research Lowers Jazz Pharmaceuticals PLC (JAZZ) to Sell
Zacks Investment Research downgraded shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) from a hold rating to a sell rating in a research note released 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.”
A number of other research firms also recently issued reports on JAZZ. FBR & Co initiated coverage on shares of Jazz Pharmaceuticals PLC in a research note on Thursday, October 19th. They issued a buy rating and a $206.00 price target for the company. Wells Fargo & Company reissued an outperform rating and issued a $177.00 price target (down from $178.00) on shares of Jazz Pharmaceuticals PLC in a research note on Thursday, August 10th. BidaskClub downgraded shares of Jazz Pharmaceuticals PLC from a hold rating to a sell rating in a research note on Thursday, August 3rd. Royal Bank Of Canada decreased their price target on shares of Jazz Pharmaceuticals PLC from $210.00 to $195.00 and set an outperform rating for the company in a research note on Wednesday, November 8th. Finally, Cantor Fitzgerald reaffirmed a buy rating on shares of Jazz Pharmaceuticals PLC in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $180.13.
Jazz Pharmaceuticals PLC (JAZZ) traded up $3.39 during mid-day trading on Friday, reaching $138.70. 551,900 shares of the company were exchanged, compared to its average volume of 518,261. Jazz Pharmaceuticals PLC has a 12 month low of $99.28 and a 12 month high of $163.75. The company has a market capitalization 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. The company has a current ratio of 3.10, a quick ratio of 2.94 and a debt-to-equity ratio of 0.63.
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In related news, EVP Michael Patrick Miller sold 200 shares of the firm’s 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 sale, the executive vice president now owns 21,996 shares in the company, valued at $3,175,782.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick G. Enright sold 351 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $148.40, for a total transaction of $52,088.40. Following the completion of the sale, the director now owns 1,717 shares in the company, valued at approximately $254,802.80. The disclosure for this sale can be found here. Insiders sold 2,551 shares of company stock worth $384,484 in the last 90 days. 4.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of JAZZ. Janus Henderson Group PLC boosted its stake in shares of Jazz Pharmaceuticals PLC by 11,990.7% during the 2nd quarter. Janus Henderson Group PLC now owns 873,919 shares of the specialty pharmaceutical company’s stock worth $135,894,000 after acquiring an additional 866,691 shares during the last quarter. FMR LLC boosted its stake in shares of Jazz Pharmaceuticals PLC by 11.4% during the 2nd quarter. FMR LLC now owns 8,290,410 shares of the specialty pharmaceutical company’s stock worth $1,289,159,000 after acquiring an additional 849,348 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Jazz Pharmaceuticals PLC by 41.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,405,408 shares of the specialty pharmaceutical company’s stock worth $218,540,000 after acquiring an additional 410,031 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Jazz Pharmaceuticals PLC during the 3rd quarter worth $52,571,000. Finally, American Century Companies Inc. boosted its stake in shares of Jazz Pharmaceuticals PLC by 133.2% during the 2nd quarter. American Century Companies Inc. now owns 549,900 shares of the specialty pharmaceutical company’s stock worth $85,509,000 after acquiring an additional 314,094 shares during the last quarter. Institutional investors and hedge funds own 88.91% of the company’s stock.
Jazz Pharmaceuticals PLC Company Profile
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.
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