Jazz Pharmaceuticals plc (JAZZ) Got Crushed -3.68% Today. Here’s Why

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a stock to watch today. At current price of $133.15, the shares have already lost -5.08 points (-3.68% lower) from its previous close of $138.23. The stock sets an active trading volume day with a reported 218439 contracts so far this session. JAZZ shares had a relatively better volume day versus average trading capacity of 506.47 thousand shares, but with a 55.18 million float and a -3.5% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for JAZZ stock indicates that the average analyst price target is $172.21 per share. This means the stock has a potential increase of 29.34% from where the JAZZ share price has been trading recently which is between $136.4901 and $141.32. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $135.

The shorts are climbing into Jazz Pharmaceuticals plc (JAZZ) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in JAZZ shares. While short interest still represents only 3.66% of JAZZ’s float, the number of shares shorted have risen by 221688. The number of shares shorted advanced to 2243510 shares, up from 2021822 shares during the preceding fortnight. With average daily trading volumes at 577084 shares, days to cover decreased to about 4.010891 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Jazz Pharmaceuticals signs multimillion-dollar deal for experimental cancer therapy” and dated July 10, 2019.

During the recent trading session for Jazz Pharmaceuticals plc (NASDAQ:JAZZ), the company witnessed their stock drop by $-8.05 over a week and surge $2.71 from the price 20 days ago. When compared to their established 52-week high of $181.46, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/08/18. The recent low of $113.52 stood for a -26.63% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.13 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Jazz Pharmaceuticals plc, the two-week RSI stands at 41.81. This figure suggests that JAZZ stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current JAZZ readings is similarly very revealing as it has a stochastic reading of 50.34% at this stage. This figure means that JAZZ share price today is being neutral.

Technical chart claims that Jazz Pharmaceuticals plc (JAZZ) would settle between $140.87/share to $143.51/share level. However, if the stock price goes below the $136.04 mark, then the market for Jazz Pharmaceuticals plc becomes much weaker. If that happens, the stock price might even plunge as low as $133.85 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Barclays, assumed coverage of JAZZ assigning Overweight rating, according to their opinion released on June 11. SunTrust, analysts launched coverage of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) stock with a Buy recommendation, according to their flash note issued to investors on March 20. Analysts at Wolfe Research, made their first call for the equity with a Peer Perform recommendation, according to a research note that dated back to December 14.

JAZZ equity has an average rating of 1.95, with the figure leaning towards a bullish end. 20 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 15 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 15 analysts rated Jazz Pharmaceuticals plc (NASDAQ:JAZZ) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, JAZZ stock price is currently trading at 7.96X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.71 while for the average stock in the same group, the multiple is 6.26. Jazz Pharmaceuticals plc current P/E ratio of 22.31 means it is trading at a discount against its industry’s 29.88. In the past 5 years, this ratio for the stock has been fluctuating between 12.27 and 175.58.

Jazz Pharmaceuticals plc (JAZZ)’s current-quarter revenues are projected to climb by nearly 1.79% to hit $509440, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 10.85% from $1.89 billion to a noteworthy $2.1 billion. At the other end of the current quarter income statement, Jazz Pharmaceuticals plc is expected to see its adjusted earnings surge by roughly 2.87% to hit $3.59 per share. For the fiscal year, JAZZ’s earnings are projected to climb by roughly 8.47% to hit $14.86 per share.