.png "Jazz Pharmaceuticals (NASDAQ: JAZZ)")
H.C. Wainwright analyst Oren Livnat reiterated a Hold rating on Jazz Pharmaceuticals (JAZZ) today and set a price target of $153. The company’s shares closed yesterday at $139.88.
Livnat noted:
“We’ve long highlighted how conservative EPS guidance has been since JAZZ missed analyst estimates repeatedly through 2016-17, and it’s worked, with five straight beats of increasing magnitude. Jazz didn’t raise despite the 1Q beat, but our 2019 EPS is now at $15.21 vs. guidance of $14.30-15.00. Our view that the Street won’t give much credit for Xyrem- driven beats given lack of clarity beyond 2022 is largely unchanged for now. Further, recent quarterly beats have included outliers, like an abnormally low tax-rate in 3Q-4Q18, or large Erwinaze upside this quarter (presumably a one-off), or head-scratchers like the surprisingly strong Xyrem this quarter. Xyrem sales of $368M easily beat consensus by $14M, but the 5% YoY volume growth and 7% price hike would have yielded an approximately in-line $356M number.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 11.2% and a 52.9% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Jazz Pharmaceuticals with a $174.91 average price target, a 25.0% upside from current levels. In a report issued on May 8, Mizuho Securities also reiterated a Hold rating on the stock.
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Based on Jazz Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $85.2 million. In comparison, last year the company had a net profit of $45.99 million.
Based on the recent corporate insider activity of 75 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.
