JAZZ - Why Jazz Pharmaceuticals Stock Is Racing Higher Today
Shares of the mid-cap biotech Jazz Pharmaceuticals (NASDAQ: JAZZ) were up by 12.2% as of 1:19 p.m. ET on Wednesday. The drugmaker's stock is up today in response to its better-than-expected 2021 fourth-quarter and full-year results.
What's the main impetus behind today's double-digit move higher? Jazz topping $3 billion in annual revenue for the first time in its history in 2021 is certainly noteworthy, but investors appear to be bidding up the shares more for the company's 2022 outlook.
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Why Jazz Pharmaceuticals Stock Is Racing Higher Today