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JAZZ · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Jazz Pharmaceuticals, Inc. (JAZZ) stock moving?
JAZZ has rallied about 19% from its $205.70 close on Oct 26 to $245.43 on Nov 10, setting a new high of $246.47 in the 30-day window. The move started with Q3 results on Nov 2: sales of $1.243B beat the $1.208B estimate by about 3%, and FY2026 sales guidance was raised to $4.775B-$4.850B against a $4.719B consensus. Adjusted EPS of $(3.88) missed $(3.86) only because of a roughly $755M non-tax-deductible acquired IPR&D charge tied to the Actio Biosciences deal (closed Sep 15), which the company estimated at about $11.00 per share. Volume peaked at 1.68M shares on Nov 3, roughly twice the typical level, when the stock gained 7.1% to $229.74. Four brokers then raised targets to $275-$319 with Overweight or Outperform ratings, while Bernstein cut its target to $220 on Nov 9. Shares now trade above that lowest target. Volume on the recent up days has been lighter, with 576,810 shares on Nov 10, suggesting slower buying interest. Other items are minor: a Phase 1 trial for a sleep disorder drug with Evotec began Nov 9, and Chief Commercial Officer Samantha Pearce plans to retire by June 30, 2027, with a formal search underway. Fundamental support is improving, but the price has already moved well above its October range.
News behind the analysis
- Jazz Pharmaceuticals Raises 2026 Revenue OutlookJazz raised its 2026 revenue guidance to $4.775B-$4.85B, citing strong performance in its rare sleep and oncology franchises.
- Bernstein Lowers Price Target for Jazz PharmaceuticalsBernstein cut its price target on Jazz from $229 to $220, the only target cut in the recent coverage.
- Jazz Pharmaceuticals Initiates Phase 1 Trial for Sleep Disorder DrugJazz started a Phase 1 trial for a new sleep disorder treatment discovered in partnership with Evotec.
- JP Morgan Maintains Overweight on Jazz Pharmaceuticals, Raises Price Target to $310JP Morgan kept its Overweight rating and raised its price target to $310.
- Morgan Stanley Maintains Overweight on Jazz Pharmaceuticals, Raises Price Target to $319Morgan Stanley kept its Overweight rating and raised its price target to $319.
- RBC Capital Maintains Outperform on Jazz Pharmaceuticals, Raises Price Target to $305RBC Capital kept its Outperform rating and raised its price target to $305.
- Barclays Maintains Overweight on Jazz Pharmaceuticals, Raises Price Target to $275Barclays kept its Overweight rating and raised its price target to $275.
- Jazz Pharmaceuticals Q3 Adj. EPS $(3.88) Misses $(3.86) Estimate, Sales $1.243B Beat $1.208B EstimateQ3 sales of $1.243B beat the $1.208B estimate, while adjusted EPS of $(3.88) missed the $(3.86) estimate after a one-time acquired IPR&D charge.
- Jazz Pharmaceuticals Raises FY2026 Sales Guidance from $4.600B-$4.750B to $4.775B-$4.850B vs $4.719B EstJazz lifted its FY2026 sales guidance to $4.775B-$4.850B, above the $4.719B consensus estimate.
About Jazz Pharmaceuticals, Inc.
Jazz Pharmaceuticals is a Dublin-based biopharma company (Nasdaq: JAZZ) that sells drugs for sleep disorders, epilepsy and rare cancers. It is best known for its narcolepsy drugs Xywav and Xyrem and the cannabis-derived seizure drug Epidiolex, and it is building up its cancer business with drugs like Ziihera (zanidatamab) and Zepzelca.
How it makes money
Jazz makes nearly all its money selling prescription drugs. Revenue was about $4.3 billion in 2025, and the company expected roughly $4.8 billion for 2026. Its biggest business is sleep drugs, led by Xywav (about $1.7 billion in 2025, or roughly 40% of revenue), plus Xyrem and royalties from authorized generic versions of it. The epilepsy business, mainly Epidiolex, is the next largest. Cancer drugs make up a growing share, including Rylaze, Zepzelca, Vyxeos, Modeyso and Ziihera, which launched for first-line HER2-positive stomach and esophageal cancers in 2026.
What usually moves JAZZ
- Xywav patient growth and competition in narcolepsy drugs
- Epidiolex sales and patent protection
- Ziihera launch uptake and clinical trial results
- FDA decisions and pipeline news
- Acquisitions and related one-time charges