Jazz Pharmaceuticals PLC’s shares advanced to a record $265.54 on Monday, extending a 110% gain over the past 12 months as second-quarter revenue surpassed expectations despite earnings per share falling short of projections.
The stock reached the all-time intraday high of $265.54, according to market data, up 3.68% from Friday’s close of $263.83. The company’s market capitalization stood at $17.09 billion, with a trailing price-to-earnings ratio of 17.68.
Second-quarter revenue totaled $1.21 billion, exceeding the consensus estimate of $1.11 billion, driven by strong performance across its portfolio including Xywav, Epidiolex, and Zepzelca. Earnings per share, however, came in at $5.71, below the $6.18 forecast, as convertible debt dilution and in-process research and development expenses weighed on profitability.
Analysts at Stifel, Truist Securities, TD Cowen, and Piper Sandler raised their price targets following the results. Stifel lifted its target to $275 from a prior $250, citing the company’s diversified portfolio. Truist Securities raised its target to $264, highlighting growth in the sleep disorder franchise. TD Cowen set a new target of $300, emphasizing the performance of Xywav, Epidiolex, and Zepzelca. Piper Sandler raised its target to $310, attributing the revision to Xywav’s contribution to upward guidance.
InvestingPro, which tracks analyst revisions, noted that 11 firms have adjusted their earnings estimates higher for the upcoming period, while also flagging the stock as undervalued. The company’s gross profit margin remained exceptionally high at 91%, reflecting the premium nature of its drug portfolio.
The milestone comes amid a broader upward trajectory for Jazz Pharmaceuticals, which has seen its shares rise nearly 110% over the past year despite short-term EPS headwinds. The stock’s performance outpaced comparisons such as Siemens Energy’s 231.5% gain and Sandisk’s 189% advance, as cited in promotional materials from InvestingPro.
