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Jazz Pharmaceuticals PLC JAZZ

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Stock XNAS Rating as of
$110.01 +0.72 (0.66%)
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As of Delayed Price Closed
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Company Report

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Jazz Pharmaceuticals Earnings: Xywav, Rylaze, and Epidiolex Drive Sales; Shares Undervalued

Rachel Elfman

Jazz Pharmaceuticals delivered solid first-quarter results, highlighted by a 12% increase in revenue from its combined key growth drivers of Xywav, Epidiolex, and Rylaze. These fast-growing drugs helped offset a 64% decrease in Xyrem sales, as total revenue increased only 1% in the first quarter compared with the prior-year period. Jazz's results are tracking our expectations, and we maintain our fair value estimate of $187 per share. We believe shares are trading at an attractive entry point in 4-star territory about 42% below our fair value estimate. We forecast Xywav, Rylaze, and Epidiolex will continue to deliver double-digit-percentage growth in 2024, and we anticipate Jazz will reach over $4.1 billion in total revenue.

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Price vs Fair Value

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JAZZ is trading at a 41% discount.
Price
$110.01
Fair Value
$613.00
Uncertainty
High
1-Star Price
$356.21
5-Star Price
$638.70
Economic Moat
Pssk
Capital Allocation
Rdktvvy

Bulls Say, Bears Say

Bulls

The GW acquisition allows Jazz to reach patient populations with rare and severe forms of epilepsy with approved indications for Epidiolex as young as 1 year of age.

Bears

Jazz has been reliant on Xyrem, which contributed 15% of 2023 sales. Generics entered the market in January 2023 and are eroding Jazz's patient share.

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Trading Information

Previous Close Price
$109.29
Day Range
$108.58–111.55
52-Week Range
$103.01–146.70
Bid/Ask
$105.99 / $115.00
Market Cap
$6.93 Bil
Volume/Avg
693,769 / 623,544

Key Statistics

Price/Earnings (Normalized)
6.45
Price/Sales
1.98
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
3.89%

Company Profile

Jazz Pharmaceuticals is an Ireland-domiciled biopharmaceutical firm focused primarily on treatments for sleeping disorders and oncology. Jazz has nine approved drugs across neuroscience and oncology indications; its portfolio includes Xyrem and Xywav for narcolepsy, Zepzelca for the treatment of metastatic small cell lung cancer, Rylaze for acute lymphoblastic leukemia, and Vyxeos for acute myeloid leukemia. In May 2021, Jazz acquired GW Pharmaceuticals and gained its leading product, Epidiolex for the treatment of severe, rare forms of epilepsy.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Small Value
Total Number of Employees
2,800
Website
https://www.jazzpharmaceuticals.com

Competitors

Valuation

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Metric
JAZZ
EXEL
UCB
Price/Earnings (Normalized)
 6.4522.0025.90
Price/Book Value
 1.883.042.55
Price/Sales
 1.983.754.48
Price/Cash Flow
 6.3220.2225.67
Price/Earnings
JAZZ
EXEL
UCB

Financial Strength

Metric
JAZZ
EXEL
UCB
Quick Ratio
 1.623.230.84
Current Ratio
 2.273.461.32
Interest Coverage
 1.86—3.88
Quick Ratio
JAZZ
EXEL
UCB

Profitability

Metric
JAZZ
EXEL
UCB
Return on Assets (Normalized)
 11.13%9.61%5.10%
Return on Equity (Normalized)
 35.21%12.20%8.82%
Return on Invested Capital (Normalized)
 16.02%8.59%7.41%
Return on Assets
JAZZ
EXEL
UCB
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