Oppenheimer Initiates a Buy Rating on Jazz Pharmaceuticals (JAZZ)


Jazz Pharmaceuticals (JAZZ) received a Buy rating and a $180 price target from Oppenheimer analyst Esther Rajavelu today. The company’s shares opened today at $141.16.

Rajavelu commented:

“We initiate coverage of Jazz Pharmaceuticals (JAZZ) with an Outperform rating and $180 price target, as we believe the JAZZ leadership team has laid the groundwork to sustain the sleep franchise post Xyrem generics. JAZZ’s CNS-related sleep disorders franchise is a solid base business with an established, cash flow generating lead product Xyrem, and a late-stage pipeline with several near-term catalysts. With JAZZ continuing to invest in its pipeline and to expand commercially, we like its strong balance sheet. We believe the company is well positioned to fund its internal investments in the near term, and explore other capital deployment activities, e.g. business development and opportunistic share repurchases.”

According to TipRanks.com, Rajavelu is a 2-star analyst with an average return of 0.6% and a 42.9% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Aerie Pharma, and Teva Pharma.

Jazz Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $187.20.

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Based on Jazz Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $149 million. In comparison, last year the company had a net profit of $63.53 million.

Based on the recent corporate insider activity of 93 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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