There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Jazz Pharmaceuticals (NASDAQ:JAZZ) and Ironwood Pharma (NASDAQ:IRWD) with bullish sentiments.
Jazz Pharmaceuticals (JAZZ)
In a report released today, David Buck from B.Riley FBR reiterated a Buy rating on Jazz Pharmaceuticals, with a price target of $219. The company’s shares opened today at $176.06, close to its 52-week high of $184.
Buck commented:
“We reiterate our Buy rating for Jazz Pharmaceuticals plc (JAZZ), our top pick and Alpha Generator. JAZZ shares corrected Friday by ~1.9% versus a flat and benchmark (SP603) likely in reaction to the company’s loss at the US Appeals (appellate court) for certain Xyrem (narcolepsy) patents. We view the appellate court decision as a negative headline; however, there are three Xyrem patents through March 2033. Settlements with first ANDA filer Hikma plc allowing generic entry January 2023 and subsequent ANDA filer Endo (ENDP; Par division) can launch its generic starting July 2023.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 16.4% and a 71.6% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.
Currently, the analyst consensus on Jazz Pharmaceuticals is a Moderate Buy with an average price target of $192.75, implying a 9.5% upside from current levels. In a report issued on July 2, Wells Fargo also maintained a Buy rating on the stock.
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Ironwood Pharma (IRWD)
Cowen & Co. analyst Boris Peaker assigned a Buy rating to Ironwood Pharma today and set a price target of $20. The company’s shares opened today at $21.09, close to its 52-week high of $21.20.
According to TipRanks.com, Peaker is a 5-star analyst with an average return of 16.5% and a 51.1% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Stemline Therapeutics Inc, Mersana Therapeutics Inc, and CytomX Therapeutics Inc.
Ironwood Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $20.33.
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