Jazz Pharmaceuticals (JAZZ) Stock Falls in After-Hours Trading on Earnings Miss
NEW YORK (TheStreet) -- Shares of Jazz Pharmaceuticals (JAZZ) - Get Report were falling by 7.1% to $130 in after-hours trading on Monday, after the pharmaceutical company missed analysts' estimates for earnings in the third quarter, and provided a light guidance for the full year 2015.
Jazz Pharmaceuticals reported earnings of $2.52 a share for the third quarter, missing analysts' estimates of $2.56 a share for the quarter. Revenue grew by 11.2% year over year to $340.9 million for the quarter, below analysts' estimates of $348.15 million.
"During the quarter, we remained focused on our mission of delivering important and meaningful products to patients," Chairman and CEO Bruce C. Cozadd said in a statement. "We are pleased that we have received FDA Priority Review status on our defibrotide NDA, an important step toward our objective to bring defibrotide to patients in the U.S. for the treatment of hepatic veno-occlusive disease with evidence of multi-organ dysfunction, a rare and often fatal complication of hematopoietic stem cell transplantation."
The drug maker is now expecting earnings of $9.45 to $9.60 a share and revenue of $1.32 billion to $1.34 billion for the full year 2015. Analysts expect the company to report earnings of $9.67 a share and revenue of $1.36 billion for the year.
Separately, TheStreet Ratings team rates JAZZ PHARMACEUTICALS PLC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate JAZZ PHARMACEUTICALS PLC (JAZZ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: JAZZ
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.