Jazz Pharmaceuticals plc – Trading Down 5.9% After Earnings Miss (JAZZ)
Shares of Jazz Pharmaceuticals plc – (NASDAQ:JAZZ) fell 5.9% during trading on Friday after the company announced weaker than expected quarterly earnings, American Banking & Market News reports. The stock traded as low as $120.38 and last traded at $125.75, with a volume of 1,931,060 shares changing hands. The stock had previously closed at $133.69.
The company reported $1.61 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.79 by $0.18. The company had revenue of $247.00 million for the quarter, compared to the consensus estimate of $254.86 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis.
JAZZ has been the subject of a number of recent research reports. Analysts at R. F. Lafferty cut their price target on shares of Jazz Pharmaceuticals plc – from $140.00 to $130.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Leerink Swann cut their price target on shares of Jazz Pharmaceuticals plc – from $170.00 to $165.00 in a research note on Friday. Finally, analysts at UBS AG cut their price target on shares of Jazz Pharmaceuticals plc – from $195.00 to $180.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $166.82.
The stock’s 50-day moving average is $136.4 and its 200-day moving average is $132.. The company has a market cap of $7.324 billion and a P/E ratio of 38.09.
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry.
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