.jpg "Jazz Pharmaceuticals (NASDAQ: JAZZ)")
B.Riley FBR analyst David Buck assigned a Buy rating to Jazz Pharmaceuticals (NASDAQ: JAZZ) yesterday and set a price target of $211. The company’s shares opened today at $157.52, close to its 52-week high of $162.59.
Buck observed:
“We reiterate our Buy rating for Jazz Pharmaceuticals plc (JAZZ), our top pick and Alpha Generator. We raise our price target from $206 to $211, reflecting 1Q18 upside and conviction in our 2018E adjusted EPS forecast of $13.15 representing 19% Y/Y growth. Jazz posted a strong 1Q18 with adjusted EPS of $2.98, topping our $2.88/FactSet $2.76 for 29% Y/Y growth. Jazz’s 1Q18 total revenue growth of 18.2% to $444.6M topped our model by 3.1% with Xyrem (narcolepsy) a stand-out at $316.8M up 16% Y/Y and well-above our consensus-like $300.9M estimate. We maintain a $13.15 adjusted EPS forecast for 2018, up 19% Y/Y reflecting higher- end of $12.75-$13.25 2018 Jazz EPS guidance.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 11.1% and a 71.9% 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 Strong Buy and the average price target is $185.80, representing a 18.0% upside.
In a report issued on April 30, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $202 price target.
See today’s analyst top recommended stocks >>
Based on Jazz Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $45.99 million. In comparison, last year the company had a net profit of $86.51 million.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Jazz Pharmaceuticals Plc operates as a specialty biopharmaceutical company, which focuses on the identification, development and commercialization of pharmaceutical products in the areas of narcolepsy, oncology, pain and psychiatry.
