5 Stocks Insiders are Buying Now

2. Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Number of Hedge Fund Investors: 42

Jazz Pharmaceuticals PLC’s (NASDAQ:JAZZ) EVP and CFO Philip Johnson bought 12,000 shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) on March 1 at $119.65 per share. The stock closed at $118.85 that day. Since then it has slipped about 1.1%.

Insider Monkey’s database of 933 hedge funds shows that 42 hedge funds had stakes in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) as of the end of the fourth quarter of 2023. The most notable stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) is owned by Bernard Horn’s Polaris Capital Management which owns a $156 million stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ).

Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:

“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).

Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…

Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)