Jazz Pharmaceuticals (JAZZ) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst David Buck maintained a Buy rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) on October 12 and set a price target of $219. The company’s shares closed on Friday at $158.82.

Buck commented:

“Jazz Pharmaceuticals plc (JAZZ) remains Buy-rated and our Alpha Generator top pick with a $219 PT. JAZZ shares stand out to us with a combination of high growth and attractive valuation, trading at 12.3x 2018E’s adjusted EPS forecast of $13.15 and at 10.4x 2019E’s adj. EPS forecast of $15.65. We expect strong adj. EPS growth plus some R&D catalysts to allow JAZZ shares outperformance. the company announced settlement with Amneal Pharmaceuticals, an ANDA filer in Xyrem patent litigation. The settlement allows a non-exclusive license to launch a limited volume of an authorized generic (AG) version of Xyrem beginning July 1, 2023, or earlier under certain circumstances and ending December 31, 2025.”

According to TipRanks.com, Buck is a 4-star analyst with an average return of 12.0% and a 54.1% 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 Strong Buy with an average price target of $198.67.

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The company has a one-year high of $184 and a one-year low of $128.58. Currently, Jazz Pharmaceuticals has an average volume of 434.8K.

Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Rick Winningham, a Director at JAZZ sold 16,639 shares for a total of $2,931,292.

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.

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