Jazz Pharma Gives Shorts A Wake-Up Call After JZP-110 Study Results

Jazz Pharmaceuticals plc - Ordinary Shares JAZZ shares are trading higher by $9.25 (6.7 percent) at $144.02 in Monday's session.

Investors are taking a liking to the company's results from Phase 3 TONES and TONES 4 studies of JZP-110 in patients with obstructive Sleep Apena.

Leerink expects the company to reach a Xyrem patent settlement from challenger Hikma Pharmaceuticals HKMPY, yielding 11 percent upside ahead of May patient trial data.

After a higher open, Jazz's stock had brief retreat to $139.30 before continuing its move higher. So far, the continuation rally took the issue to $144.92, but has backed off to the $144.00 area.

That marks the highest level for the issue since August 10, when it closed the previous day at $150.01, peaked at $147.75 and ended the session at $140.01. That decline was the result of the company's Q2 EPS miss and lower Q3 guidance.