Could Jazz Pharmaceuticals plc – Ordinary Shares (JAZZ) Increase Even More? The Stock Formed Bullish Multiple Top Chart Pattern

September 17, 2017 - By Adrian Erickson

Investors sentiment decreased to 0.68 in 2016 Q4. Its down 0.13, from 0.81 in 2016Q3. It dived, as 64 investors sold Jazz Pharmaceuticals plc – Ordinary Shares shares while 111 reduced holdings. 43 funds opened positions while 76 raised stakes. 50.81 million shares or 3.20% less from 52.49 million shares in 2016Q3 were reported.
Lazard Asset Mngmt, a New York-based fund reported 15 shares. Kansas-based Mariner Wealth Advisors Ltd Liability Co has invested 0.01% in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). First Manhattan Communications invested in 1,900 shares or 0% of the stock. Panagora Asset Mngmt has invested 0% in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). Pine River Capital Management L P has invested 0.08% in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). Mckinley Capital Mgmt Limited Liability Co Delaware invested 0% of its portfolio in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). Moreover, Guggenheim Ltd Limited Liability Company has 0.01% invested in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) for 42,735 shares. Prelude Cap Management Limited Liability invested in 0.23% or 17,589 shares. Bingham Osborn Scarborough Lc owns 0.18% invested in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) for 15,412 shares. Invesco reported 320,142 shares. Marshall Wace Limited Liability Partnership invested 0.05% of its portfolio in Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ). Commerzbank Aktiengesellschaft Fi reported 0.02% stake. Denver Investment Advsr Limited Liability Corp reported 2,345 shares. Ranger Inv Mgmt Ltd Partnership, Texas-based fund reported 16,550 shares. 3,847 were accumulated by Calvert Invest Mgmt.

Since April 10, 2017, it had 0 buys, and 6 insider sales for $7.56 million activity. WILSON KAREN J sold 11,458 shares worth $1.74 million. 2,500 shares were sold by Hooper Suzanne Sawochka, worth $400,000. $4.60 million worth of Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) was sold by COZADD BRUCE C. Shares for $30,130 were sold by MILLER MICHAEL PATRICK. Shares for $750,000 were sold by Winningham Rick E.

The stock of Jazz Pharmaceuticals plc – Ordinary Shares (JAZZ) shows a multiple tops pattern with $162.08 target or 7.00 % above today’s $151.48 share price. The 5 months chart pattern indicates low risk for the $9.10 billion company. It was reported on Sep, 17 by Finviz.com. If the $162.08 price target is reached, the company will be worth $637.00M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.50% or $0.76 on September 15, reaching $151.48. About 439,864 shares traded. Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) has risen 1.25% since September 17, 2016 and is uptrending. It has underperformed by 15.45% the S&P500.

Wall Street await Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) to release earnings on November, 14. Analysts forecast earnings per share of $2.54, up exactly $0.38 or 17.59 % from 2014’s $2.16 EPS. The expected JAZZ’s profit could reach $152.59 million giving the stock 14.91 P/E in the case that $2.54 earnings per share is reported. After posting $1.72 EPS for the previous quarter, Jazz Pharmaceuticals plc – Ordinary Shares’s analysts now forecast 47.67 % EPS growth.

Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) Ratings Coverage

Among 18 analysts covering Jazz Pharmaceuticals (NASDAQ:JAZZ), 14 have Buy rating, 0 Sell and 4 Hold. Therefore 78% are positive. Jazz Pharmaceuticals had 42 analyst reports since August 3, 2015 according to SRatingsIntel. H.C. Wainwright initiated the stock with “Hold” rating in Friday, August 25 report. The company was maintained on Wednesday, June 7 by BMO Capital Markets. Mizuho upgraded Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) on Wednesday, May 11 to “Buy” rating. As per Thursday, August 25, the company rating was initiated by Janney Capital. The stock of Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) has “Buy” rating given on Monday, July 17 by Deutsche Bank. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, February 24. On Monday, August 21 the stock rating was maintained by Cowen & Co with “Buy”. The stock of Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) has “Outperform” rating given on Wednesday, June 29 by BMO Capital Markets. The stock has “Buy” rating by Goldman Sachs on Monday, June 6. The company was initiated on Friday, February 19 by Wells Fargo.

More notable recent Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) news were published by: Prnewswire.com which released: “Jazz Pharmaceuticals Announces Offering of $500 Million of 1.50% Exchangeable …” on August 18, 2017, also Prnewswire.com with their article: “Jazz Pharmaceuticals Announces Full Year And Fourth Quarter 2016 Financial Results” published on February 28, 2017, Schaeffersresearch.com published: “Jazz Pharmaceuticals, Snap, Transocean Stocks Moving Today” on March 20, 2017. More interesting news about Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) were released by: Benzinga.com and their article: “Jazz Pharma To Evaluate If Generic Xyrem’s FDA Waiver Meets Required Legal …” published on January 18, 2017 as well as Benzinga.com‘s news article titled: “Martin Shkreli Thinks Jazz Pharmaceuticals Could Be Worth $20 Billion, While …” with publication date: September 12, 2016.

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