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Jazz Pharmaceuticals Q2 Results Exceeded Expectations, With Growth Across Portfolio, RBC Says

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Jazz Pharmaceuticals (JAZZ) Q2 results exceeded expectations on revenue growth, demonstrating strength across Epidiolex, oncology and sleep segments, RBC Capital Markets analysts said in a Monday note.

While Jazz's spending increased in Q2, the investment is necessary to drive sustained revenue, with the possible near-term zanidatamab launch also expected to be a growth driver, RBC said.

Jazz is likely in later stage label discussions with the Food and Drug Administration regarding the zanidatamab launch for the treatment of gastroesophageal adenocarcinoma, the analysts said.

If approved, zanidatamab has the potential to generate about $1.5 billion in peak sales in gastroesophageal adenocarcinoma, RBC said.

RBC retained an outperform rating on the stock and increased its price target to $273 from $258

Price: $249.29, Change: $-2.29, Percent Change: -0.91%

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