Jazz Pharmaceuticals (NASDAQ:JAZZ) Updates FY24 Earnings Guidance

Jazz Pharmaceuticals (NASDAQ:JAZZ) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $19.50-20.60 for the period, compared to the consensus estimate of $19.51. The company issued revenue guidance of $4.0-4.1 billion, compared to the consensus revenue estimate of $4.04 billion.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ traded up $0.12 during midday trading on Wednesday, reaching $111.55. 800,619 shares of the stock were exchanged, compared to its average volume of 668,778. The firm has a 50-day simple moving average of $110.51 and a two-hundred day simple moving average of $109.60. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.36. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $134.48. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.38 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JAZZ shares. HC Wainwright reissued a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada boosted their price objective on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley dropped their price objective on shares of Jazz Pharmaceuticals from $160.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, Wells Fargo & Company dropped their target price on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.43.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the chief executive officer now directly owns 428,976 shares in the company, valued at $47,547,699.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the sale, the chief executive officer now directly owns 428,976 shares of the company’s stock, valued at approximately $47,547,699.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mary Elizabeth Henderson sold 1,410 shares of Jazz Pharmaceuticals stock in a transaction on Friday, September 6th. The shares were sold at an average price of $108.30, for a total value of $152,703.00. Following the transaction, the senior vice president now owns 14,531 shares in the company, valued at $1,573,707.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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.