Small Cap Mover; Jazz Pharmaceuticals Inc. (JAZZ) Soars after Q3 Results

Jazz Pharmaceuticals Inc. (NASDAQ: JAZZ) shares are soaring today after the company reported its third-quarter financial results. Shares were up 12.42% to $13.94, at last check, on above average volume of 1.79 million. The stock touched a 52-week high of $14.28. It has a 52-week range of $6.38-$14.28. Yesterday, the company announced its third quarter financial results 2010, with net revenues at $44.8 million, up 45% as compared to $30.8 million for the previous year. This spike resulted from an increase in sales of 46% of Xyrem and LUVOX CR (fluvoxamine maleate) extended-release capsules. The net income reported was $13.2 million or $0.32 per diluted share, as compared to a net loss of $1.7 million, or $0.05 per diluted share for the previous year. The company revised its full year 2010 guidance to increase the company’s adjusted net income per share guidance and provided updated estimates of full year product sales of $164 – $168 million. The net income per diluted share is expected in the range of $0.70 – $0.75 and adjusted net income per diluted share in between $1.45 – $1.50. The company is looking forward to gaining clarity from the FDA regarding next steps for JZP-6 in fibromyalgia for 2011. Jazz Pharmaceuticals is a specialty pharmaceutical company. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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