Jazz Pharmaceuticals (JAZZ) Received its Third Buy in a Row

After Oppenheimer and B.Riley FBR gave Jazz Pharmaceuticals (NASDAQ: JAZZ) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Brandon Folkes maintained a Buy rating on Jazz Pharmaceuticals today and set a price target of $201. The company’s shares opened today at $128.75.

Folkes wrote:

“: We recently assumed coverage of JAZZ with an Overweight rating and $201PT, and we are reiterating both and updating our forecasts. JAZZ continues to grow its core sleep franchise and has been able to successfully build a pipeline of follow on, and line extension products within this segment, which will likely drive upside to our current forecasts post 2023 when the first Xyrem AG enters the market. Additionally the company has an interesting hemo/oncology business which could drive the next leg of growth and evolution for JAZZ, including the collaboration deal with Codiak (Private) to develop treatments for hard to treat cancers.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of -6.7% and a 27.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.

Currently, the analyst consensus on Jazz Pharmaceuticals is a Strong Buy with an average price target of $186.55, a 44.9% upside from current levels. In a report issued on December 21, Wells Fargo also maintained a Buy rating on the stock.

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Jazz Pharmaceuticals’ market cap is currently $7.6B and has a P/E ratio of 14.90. The company has a Price to Book ratio of 2.51.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JAZZ in relation to earlier this year.

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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.