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Jazz Pharmaceuticals
(NASDAQ:JAZZ)
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Rating:76Outperform
Price Target:
$272.00
▲(4.52% Upside)
Action:Reiterated
Date:09/23/26
The score is driven primarily by strong financial performance—especially durable, growing free cash flow and improved leverage—reinforced by a constructive earnings update with raised guidance and broad product momentum. These positives are tempered by softer technical momentum and a valuation that is reasonable but not distinctly cheap, alongside ongoing margin and competitive/generic risks highlighted in recent updates.
Positive Factors
Strong revenue growth and raised guidance
Record quarterly revenue and higher full-year guidance indicate broad commercial momentum across Jazz’s portfolio. Growth in oncology, Xywav, Epidiolex and Zepzelca supports revenue durability, while the diversified product base reduces reliance on a single near-term growth driver.
Negative Factors
Ongoing competitive and generic risk
The oxybate franchise remains exposed to generic competition and emerging orexin treatments, which could pressure patient growth, pricing and market share over time. Even with limited generic uptake so far, these threats may reduce the durability of a key revenue and cash-flow contributor.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth and raised guidance
Record quarterly revenue and higher full-year guidance indicate broad commercial momentum across Jazz’s portfolio. Growth in oncology, Xywav, Epidiolex and Zepzelca supports revenue durability, while the diversified product base reduces reliance on a single near-term growth driver.
Read all positive factors
Jazz Pharmaceuticals Key Performance Indicators (KPIs)
Any
Neroscience Revenue Breakdown
Highlights revenue generated from neuroscience products, indicating the company's strength and focus in treating neurological disorders, and potential growth in this specialized market.
Highlights revenue generated from neuroscience products, indicating the company's strength and focus in treating neurological disorders, and potential growth in this specialized market.
Data provided by:
The Fly
The FlyJazz Pharmaceuticals (JAZZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.18B
Dividend YieldN/A
Average Volume (3M)777.52K
Price to Earnings (P/E)14.5
Beta (1Y)0.68
Revenue Growth12.59%
EPS GrowthN/A
CountryUS
Employees2,890
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)15.20
Shares Outstanding64,914,570
10 Day Avg. Volume862,918
30 Day Avg. Volume777,516
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)2.40
Price to Sales (P/S)2.43
P/FCF Ratio9.05
Enterprise Value/Market Cap1.34
Enterprise Value/Revenue4.11
Enterprise Value/Gross Profit4.86
Enterprise Value/Ebitda11.55
Forecast
1Y Price Target
$297.32Price Target Upside14.25% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering19
EPS Forecast (FY)24.86
Revenue Forecast (FY)$4.72B
Jazz Pharmaceuticals Business Overview & Revenue Model
Company Description
Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products in the United States, Europe, and internationally. The company offers Xywav to treat cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idio...
How the Company Makes Money
Jazz Pharmaceuticals makes money primarily by selling prescription medicines, generating revenue when its products are ordered and reimbursed through pharmaceutical distribution channels. The company’s key revenue stream is net product sales (gros...
Jazz Pharmaceuticals Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented multiple strong commercial and pipeline wins — record revenue, raised guidance, double-digit growth across key brands (oncology +32%, Xywav +13%, Epidiolex +16%, Zepzelca +42%) and a solid balance sheet — while acknowledging manageable margin pressure from royalties, rising SG&A/R&D investments, label adjustments for Zepzelca second-line, and potential future competitive/generic risks for the oxybate franchise. On balance, the positive execution, guidance raise, cash generation and late-stage regulatory momentum outweigh the identified challenges.Positive Updates
Record Quarterly Revenue and Raised Full-Year Guidance
Record revenue of $1.21 billion in 2Q26, up 16% year-over-year; updated 2026 revenue guidance raised to $4.60B–$4.75B driven by strong first-half performance.
Negative Updates
Gross Margin Pressure from Royalties
Non-GAAP adjusted gross margin declined slightly year-over-year, attributed to higher sales of Zepzelca and Modeyso which carry third-party royalties.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and Raised Full-Year Guidance
Record revenue of $1.21 billion in 2Q26, up 16% year-over-year; updated 2026 revenue guidance raised to $4.60B–$4.75B driven by strong first-half performance.
Read all positive updates
Company Guidance
Management raised 2026 revenue guidance to $4.60–$4.75 billion and set rare-sleep revenue at $2.025–$2.125 billion, citing record Q2 revenue of $1.21 billion (16% YoY), strong oncology growth (+32% Y/Y), and robust first‑half operating cash flow of $824 million and $2.2 billion cash on the balance sheet; they expect double‑digit Xywav growth in 2026, modestly higher SG&A guidance (non‑GAAP SG&A and R&D each rose 11% this quarter), a slightly lower non‑GAAP gross margin, a non‑GAAP effective tax rate moderately above prior guidance, updated fully diluted share count guidance to 69–70 million shares, and reported Q2 non‑GAAP EPS of $5.71 (including $0.94 of IPR&D charges), with product-level drivers including Xywav Q2 sales of $471 million (~525 net patient adds; ~17,125 active patients, >12% YoY), Epidiolex $292 million (16% Y/Y; ~12% volume growth), Zepzelca $106 million (42% Y/Y), Modeyso $48 million and Ziihera $15 million.Jazz Pharmaceuticals Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
85
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.60B | 4.27B | 4.07B | 3.83B | 3.66B | 3.09B |
| Gross Profit | 3.90B | 3.76B | 3.62B | 3.40B | 3.12B | 2.65B |
| EBITDA | 1.64B | 262.76M | 1.52B | 1.45B | 1.47B | 1.03B |
| Net Income | 940.76M | -356.15M | 560.12M | 414.83M | -224.06M | -328.95M |
Balance Sheet | ||||||
| Total Assets | 11.08B | 11.66B | 12.01B | 11.39B | 10.84B | 12.30B |
| Cash, Cash Equivalents and Short-Term Investments | 2.20B | 2.44B | 2.99B | 1.63B | 881.48M | 591.45M |
| Total Debt | 4.41B | 5.42B | 6.16B | 5.79B | 5.81B | 6.15B |
| Total Liabilities | 6.28B | 7.34B | 7.92B | 7.66B | 7.75B | 8.33B |
| Stockholders Equity | 4.80B | 4.32B | 4.09B | 3.74B | 3.09B | 3.97B |
Cash Flow | ||||||
| Free Cash Flow | 1.54B | 1.15B | 1.35B | 1.07B | 773.78M | 732.98M |
| Operating Cash Flow | 1.66B | 1.36B | 1.40B | 1.09B | 1.27B | 778.51M |
| Investing Cash Flow | -221.96M | -1.51B | -508.19M | -163.06M | -446.23M | -5.21B |
| Financing Cash Flow | -1.01B | -873.38M | 20.52M | -305.25M | -529.49M | 3.97B |
Jazz Pharmaceuticals Technical Analysis
Negative
260.23
Price Trends
244.39
Negative
241.77
Negative
213.42
Positive
Market Momentum
-5.28
Positive
26.92
Positive
29.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JAZZ, the sentiment is Negative. The current price of 260.23 is above the 20-day moving average (MA) of 235.82, above the 50-day MA of 244.39, and above the 200-day MA of 213.42, indicating a neutral trend. The MACD of -5.28 indicates Positive momentum. The RSI at 26.92 is Positive, neither overbought nor oversold. The STOCH value of 29.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JAZZ.
Jazz Pharmaceuticals Risk Analysis
Jazz Pharmaceuticals disclosed 47 risk factors in its most recent earnings report. Jazz Pharmaceuticals reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jazz Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $14.48B | 20.21 | 21.13% | ― | 34.42% | 102.44% | |
81 Outperform | $2.35B | 12.83 | 20.06% | ― | 24.25% | -0.83% | |
76 Outperform | $14.18B | 14.48 | 21.37% | ― | 12.59% | ― | |
69 Neutral | $7.26B | -20.11 | -34.15% | ― | -100.00% | -5.32% | |
52 Neutral | $3.53B | -7.69 | -43.98% | ― | -100.00% | -33.88% | |
52 Neutral | $8.82B | -44.89 | -255.60% | ― | 56.87% | 25.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
JAZZ
Jazz Pharmaceuticals
218.42
83.28
61.62%
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142.44
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3.71%
XENE
Xenon
36.44
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AXSM
Axsome Therapeutics
168.35
47.20
38.96%
HRMY
Harmony Biosciences Holdings
40.28
13.92
52.81%
PRAX
Praxis Precision Medicines
259.86
207.52
396.48%
Jazz Pharmaceuticals Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Jazz Pharmaceuticals Refinances Term Loan, Extends Maturities
Positive
Sep 23, 2026
On September 23, 2026, Jazz Financing Lux S.à r.l., a wholly owned subsidiary of Jazz Pharmaceuticals, entered into a fourth amendment to its existing credit agreement to extend the maturity and reprice its U.S. dollar term loan B-2 facility ...
Business Operations and StrategyM&A Transactions
Jazz Pharmaceuticals Acquires Actio Biosciences to Expand Epilepsy Portfolio
Positive
Sep 15, 2026
On September 15, 2026, Jazz Pharmaceuticals completed its $820 million upfront acquisition of privately held Actio Biosciences, making Actio an indirect wholly owned subsidiary via a merger structure. As part of the deal, Actio’s non‑A...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Jazz Pharmaceuticals Completes $1.25 Billion Notes Offering
Positive
Aug 31, 2026
On August 31, 2026, Jazz Investments I Limited, a wholly owned subsidiary of Jazz Pharmaceuticals, closed a private offering of $1.25 billion of 1.875% exchangeable senior notes due 2032 to qualified institutional buyers under Rule 144A, following...
Business Operations and StrategyProduct-Related Announcements
Jazz wins FDA nod for Ziihera gastric cancer use
Positive
Aug 25, 2026
On August 25, 2026, Jazz Pharmaceuticals said the U.S. Food and Drug Administration approved two Ziihera-containing regimens for first-line treatment of adults with unresectable locally advanced or metastatic HER2-positive gastroesophageal adenoca...
Business Operations and StrategyM&A Transactions
Jazz Pharmaceuticals to Acquire Actio Biosciences in Merger
Positive
Aug 10, 2026
On August 10, 2026, Jazz Pharmaceuticals, Inc. agreed to acquire Actio Biosciences, Inc. in a cash-based merger valued at an initial $820 million, with customary balance sheet adjustments, making Actio a wholly owned subsidiary. The deal structure...
Business Operations and StrategyM&A Transactions
Jazz Pharmaceuticals to Acquire Rare Epilepsy Specialist Actio
Positive
Aug 10, 2026
On August 10, 2026, Jazz Pharmaceuticals agreed to acquire privately held Actio Biosciences in a deal featuring an $820 million upfront payment and up to $500 million in milestone-based contingent consideration. The transaction, unanimously approv...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Jazz Pharmaceuticals Shareholders Reaffirm Board and Governance Plans
Positive
Jul 24, 2026
At its July 23, 2026 annual general meeting in Dublin, Jazz Pharmaceuticals’ shareholders elected three directors—Bruce C. Cozadd, Heather Ann McSharry and Rick E. Winningham—to serve until the 2029 annual meeting, signaling cont...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.