Jazz Pharmaceuticals (NASDAQ:JAZZ) Releases FY24 Earnings Guidance

Jazz Pharmaceuticals (NASDAQ:JAZZ) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $19.20-$20.30 for the period, compared to the consensus estimate of $18.51. The company issued revenue guidance of $4.0-$4.1 billion, compared to the consensus revenue estimate of $4.04 billion.

Analyst Ratings Changes

A number of brokerages recently weighed in on JAZZ. StockNews.com downgraded shares of Jazz Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, July 5th. The Goldman Sachs Group started coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 5th. They issued a buy rating and a $169.00 price objective on the stock. UBS Group cut their target price on Jazz Pharmaceuticals from $117.00 to $113.00 and set a neutral rating on the stock in a research note on Tuesday, July 2nd. Morgan Stanley dropped their target price on shares of Jazz Pharmaceuticals from $160.00 to $150.00 and set an equal weight rating for the company in a research report on Friday, July 12th. Finally, Needham & Company LLC lowered their price objective on shares of Jazz Pharmaceuticals from $222.00 to $210.00 and set a buy rating for the company in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $185.86.

Jazz Pharmaceuticals Stock Down 1.8 %

NASDAQ JAZZ traded down $2.02 during trading on Wednesday, reaching $110.25. 651,704 shares of the company’s stock traded hands, compared to its average volume of 675,401. Jazz Pharmaceuticals has a 12-month low of $99.06 and a 12-month high of $146.70. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.27 and a quick ratio of 1.90. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The company’s 50 day simple moving average is $107.37 and its two-hundred day simple moving average is $114.18.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.55). The company had revenue of $901.98 million for the quarter, compared to analyst estimates of $938.99 million. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. As a group, sell-side analysts forecast that Jazz Pharmaceuticals will post 15.31 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In related news, EVP Neena M. Patil sold 5,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $109.65, for a total value of $548,250.00. Following the sale, the executive vice president now owns 36,629 shares of the company’s stock, valued at approximately $4,016,369.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

About Jazz Pharmaceuticals

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.