Jazz Pharmaceuticals Received its Third Buy in a Row


After B.Riley FBR and Wells Fargo gave Jazz Pharmaceuticals (NASDAQ: JAZZ) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst William Tanner reiterated a Buy rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) yesterday and set a price target of $203. The company’s shares closed on Friday at $175.98, close to its 52-week high of $184.

Tanner noted:

“: We reiterate our Overweight rating and 12-month $203 PT for JAZZ stock. We believe the next 6-12 months will be an important period for the company (and stock) with likely approval of a new product, solriamfetol (PDUFA date December 20), and release of Phase 3 trial data in early 2019 for JZP-258, an asset we believe will be critical for extending the oxybate franchise.”

According to TipRanks.com, Tanner is a 4-star analyst with an average return of 5.5% and a 54.7% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.

Jazz Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $192.75, which is a 9.5% upside from current levels. In a report issued on July 2, Wells Fargo also maintained a Buy rating on the stock.

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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 578.4K.

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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.

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