B.Riley FBR analyst David Buck reiterated a Buy rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) yesterday and set a price target of $219. The company’s shares opened today at $166.38.
“We reiterate our Buy rating for Jazz Pharmaceuticals plc (JAZZ), our top pick and Alpha Generator, with our $219 PT. We recap our recent meeting with JAZZ’s senior management including President & COO Daniel Swisher and Dr. Medical Officer. President – Investor Relations, also attended. We sensed confidence in core sleep franchise growth trajectory with Xyrem (narcolepsy) protected until authorized generic entry starting 2023. Follow-on narcolepsy drug JZP-258 (90% reduced sodium) should complete Phase III enrollment in 2018 and we expect data announcement for JZP-258 in spring 2018. An idiopathic hypersomnia indication for JZP-258 represents a longer-term growth driver.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 16.6% and a 66.3% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.
Jazz Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $204.
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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 511.2K.
Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. Last month, Rick Winningham, a Director at JAZZ sold 16,639 shares for a total of $2,931,292.
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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.