The stock market is en fuego right now. It seems like every stock is breaking out to all-time highs. It’s times like this when investors can lose sight of what makes money over the long run. Stocks with the strongest earnings do the best over time. One way to find stocks with strong earnings trends is by leaning on the time-tested power of the Zacks Rank. Today’s Bull of the Day is one of those stocks.
I’m talking about Zacks Rank #1 (Strong Buy) Jazz Pharmaceuticals (JAZZ - Free Report) . Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology. Its lead marketed products include Xyrem, an oral solution for the treatment of cataplexy and excessive daytime sleepiness (EDS) in adult and pediatric patients with narcolepsy; Erwinaze to treat acute lymphoblastic leukemia; Defitelio for the treatment of adult and pediatric patients with hepatic veno-occlusive disease, a potentially life-threatening complication of hematopoietic stem cell transplantation; and Vyxeos liposome for injection, a product for the treatment of adults with newly-diagnosed therapy-related acute myeloid leukemia.
The reason for the favorable Zacks Rank lies in estimate revisions coming from analysts around Wall Street. Over the last thirty days, seven analysts have increased their estimates for the current quarter, while ten have done so for the current year. The bullish moves have pushed up the Zacks Consensus Estimates for the current quarter from $3.71 to $4.03 while current year consensus is up from $14.98 to $15.81.
Those estimates have helped spark a rally in Jazz Pharmaceuticals. The stock bottomed out under $120 in mid-October. Since then, shares have rallied dramatically with the stock closing all the way up at $138.64 on Friday November 15th.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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