Jazz Pharmaceuticals (JAZZ) Gets a Buy Rating from Oppenheimer

Oppenheimer analyst Esther Rajavelu maintained a Buy rating on Jazz Pharmaceuticals (JAZZ) today and set a price target of $175. The company’s shares closed yesterday at $133.57.

Rajavelu noted:

“As we had anticipated, the FDA approved JAZZ’s Sunosi (solriamfetol) tablets to improve wakefulness in adult patients with excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea (OSA). We anticipate JAZZ will launch Sunosi mid-year post controlled substance scheduling by the DEA, and model $8M/ $98M in US revenue for 2019/2020, growing to ~$400M over five years. We also anticipate EU regulation action in 4Q19, but model modest revenue in the EU. We maintain our Outperform rating and $175 price target as we continue to view JAZZ’s sleep management franchise as a profitable base business that allows management to pursue near-term capital deployment opportunities, including incremental share repurchases to enhance shareholder value.”

According to TipRanks.com, Rajavelu is a 2-star analyst with an average return of 2.1% and a 54.2% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rocket Pharmaceuticals Inc, and Aerie Pharma.

Currently, the analyst consensus on Jazz Pharmaceuticals is a Moderate Buy with an average price target of $172.91, which is a 29.5% upside from current levels. In a report issued on March 19, Wells Fargo also maintained a Buy rating on the stock with a $162 price target.

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Jazz Pharmaceuticals’ market cap is currently $7.68B and has a P/E ratio of 18.28. The company has a Price to Book ratio of 2.79.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock.

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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.