Jazz Pharmaceuticals (NASDAQ: JAZZ) is a cross between a pharmaceutical stock and a cannabis stock. In its earlier life, it was a pharmaceutical company that was chugging along and posting some good numbers. But after it acquired GW Pharmaceuticals earlier this year, that changed. Now that it owns the only cannabis-based drug (Epidiolex) that the U.S. Food and Drug Administration has approved, it has become an even more attractive growth stock with tremendous upside.
While investors weren't pleased with the company's recent earnings report, which sent shares off a cliff, there's plenty of reason to remain bullish on the stock. And given that shares of Jazz are trading at the lowest price they've fetched all year, now may be a great time to consider buying it.