NEW YORK (TheStreet) -- Shares of Jazz Pharmaceuticals (JAZZ) - Get Report were diving 6.43% to $140.37 on heavy trading volume late Wednesday afternoon after the company reported weaker-than-anticipated results for the 2016 second quarter.
After yesterday's closing bell, the Dublin-based biopharma company posted adjusted earnings of $2.63 per share, lower than analysts' estimates of $2.80 per share.
Revenue for the quarter was $381.2 million, which fell short of forecasts for $376.4 million.
For the full year, Jazz sees adjusted earnings per share between $9.90 and $10.30 on revenue of $1.49 billion to $1.53 billion. Analysts are looking for earnings of $11.14 per share on revenue of $1.52 billion for 2016.
About 1.23 million of the company's shares were traded so far today vs. its average volume of 726,695 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: JAZZ