H.C. Wainwright analyst Oren Livnat reiterated a Hold rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) today and set a price target of $167. The company’s shares closed yesterday at $175.58, close to its 52-week high of $184.
Livnat observed:
“We highlighted after 1Q that management seemed to be taking a decidedly conservative approach to guidance this year, and this quarter we again see a healthy beat with little or no full-year raise. We still think guidance is a bit conservative (we’re near the high end on REV and EPS), but besides a small revenue drag from the sale of Prialt, unfortunately there was a key underperformer holding Jazz guidance back: Vyxeos. Jazz’s newest growth driver, from its most recent acquisition, only grew modestly QoQ, missed consensus for the second straight quarter, and Jazz lowered the product’s 2018 guidance 12% at the midpoint to $115-135M.”
According to TipRanks.com, Livnat has 0 stars on 0-5 star ranking scale with an average return of -4.8% and a 45.7% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Agile Therapeutics.
Currently, the analyst consensus on Jazz Pharmaceuticals is a Strong Buy with an average price target of $202.42.
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Jazz Pharmaceuticals’ market cap is currently $10.61B and has a P/E ratio of 24.83. The company has a Price to Book ratio of 3.70.
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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.
