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 $19.50-20.60 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 also updated its FY 2024 guidance to 19.500-20.600 EPS.

Jazz Pharmaceuticals Stock Up 3.8 %

JAZZ traded up $4.53 during trading on Friday, hitting $123.61. The company had a trading volume of 868,101 shares, compared to its average volume of 673,618. The company has a market cap of $7.63 billion, a PE ratio of 17.41, a P/E/G ratio of 1.37 and a beta of 0.57. Jazz Pharmaceuticals has a 1-year low of $99.06 and a 1-year high of $134.17. The business has a 50-day moving average of $110.64 and a 200-day moving average of $109.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.37 and a quick ratio of 2.02.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Wednesday, November 6th. The specialty pharmaceutical company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $1.32. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. As a group, analysts forecast that Jazz Pharmaceuticals will post 16.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, August 1st. TD Cowen dropped their price target on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $108.30, for a total transaction of $152,703.00. Following the transaction, the senior vice president now owns 14,531 shares of the company’s stock, valued at $1,573,707.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 1,410 shares of Jazz Pharmaceuticals stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,573,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on 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 owns 428,976 shares in the company, valued at $47,547,699.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.