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Investing.com - Piper Sandler raised its price target on Jazz Pharmaceuticals (NASDAQ:JAZZ) to $310 from $301 while maintaining an Overweight rating on Monday.

The firm cited Xywav’s performance as a key driver behind the company’s upward guidance revision. Jazz Pharmaceuticals reported second-quarter 2026 non-GAAP adjusted diluted earnings per share of $5.71 on revenue of $1.2 billion, compared to consensus estimates of $5.99 and $1.1 billion. The stock is trading at $255.38, near its 52-week high of $261.30, reflecting strong investor confidence with a remarkable 117% gain over the past year.

Management raised its 2026 total revenue guidance to a range of $4.6 billion to $4.75 billion, implying annual growth of 10% at the midpoint. Piper Sandler noted that Zepzelca continues to show strength.

The firm said it expects limited pressure on Xywav from orexin 2 receptor agonists, citing a large pool of narcolepsy and idiopathic hypersomnia patients currently on modafinil, stimulants, or no treatment. Piper Sandler pointed to the company’s high-growth oncology vertical and steady Epidiolex growth. The company’s impressive 91.5% gross profit margin underscores its pricing power and operational efficiency. InvestingPro analysis suggests the stock remains undervalued, with additional insights available through comprehensive Pro Research Reports.

The firm said the combination translates into visibility for long-term top-line and EBITDA compound annual growth rate in the double digits, with an enterprise value to 2027 estimated EBITDA ratio of approximately 8 times.

In other recent news, Jazz Pharmaceuticals reported its second-quarter earnings, which fell short of Wall Street expectations for both earnings and revenue. The company posted non-GAAP adjusted earnings of $5.71 per share, missing the analyst forecast of $6.18. Revenue for the quarter was $1.02 billion, below the anticipated $1.11 billion. Despite this, Jazz Pharmaceuticals increased its full-year outlook, highlighting momentum across its rare disease and oncology portfolio. The company reported record quarterly revenue of approximately $1.2 billion, marking a 16% increase from the previous year. Needham raised its price target for Jazz Pharmaceuticals to $292 from $282, maintaining a Buy rating. This decision was influenced by Jazz’s performance, with Xywav and Epidiolex revenues exceeding expectations by $52 million and $50 million, respectively. These developments reflect the company’s ongoing efforts to strengthen its financial standing.

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