Jazz Pharmaceuticals (JAZZ) Surges 22.57% to Month High on Phase 3 Trial Success and Strong Q3 Earnings

The share price rose to its highest level so far this month, with an intraday gain of 22.57%.

Jazz Pharmaceuticals (NASDAQ: JAZZ) surged following positive Phase 3 trial results for Ziihera (zanidatamab-hrii) in treating HER2-positive gastroesophageal adenocarcinoma. The HERIZON-GEA-01 trial demonstrated statistically significant improvements in progression-free survival and a favorable safety profile for Ziihera combinations. Analysts highlighted the potential for the drug to redefine treatment standards, with RBC Capital upgrading its price target to $194 and maintaining an “Outperform” rating. The stock also gained momentum after Q3 2025 earnings exceeded expectations, with $8.13 EPS and $1.13 billion in revenue.

The results validate Jazz’s strategic shift toward oncology, bolstered by partnerships with Zymeworks and BeOne for global commercialization. The company plans to submit a supplemental Biologics License Application to the FDA in early 2026 and aims for inclusion in NCCN guidelines. Analysts noted Ziihera’s potential to diversify Jazz’s revenue, reducing reliance on its oxybate franchise. With a market cap of $10.4 billion, the stock’s performance reflects optimism over long-term innovation and clinical milestones, though final efficacy data will remain a key focus for investors in the coming months.