Oppenheimer Reaffirms Their Buy Rating on Jazz Pharmaceuticals (JAZZ)

In a report released today, Esther Rajavelu from Oppenheimer maintained a Buy rating on Jazz Pharmaceuticals (JAZZ), with a price target of $177. The company’s shares opened today at $140.59.

Rajavelu noted:

“JAZZ reported 1Q results that were in line with our estimates for revenues and adjusted net income (beat consensus on both), and beat our adjusted EPS due to higher share repurchases in the quarter. Management maintained overall guidance, but indicated it anticipates quarterly variability on Erwinaze and Defitelio, and expects to increase SG&A spend in the coming quarters for Sunosi (solriamfetol) launch. We note strong early Vyxeos momentum in the EU and await management updates on the asparaginase program and Sunosi commercial strategy later this year. We maintain our Outperform rating on a slightly higher price target of $177 (vs. $175).”

According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -2.4% and a 33.3% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Biohaven Pharmaceutical Holding Co Ltd, and Rocket Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Jazz Pharmaceuticals with a $174.73 average price target, representing a 24.3% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $185 price target.

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Based on Jazz Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $159 million. In comparison, last year the company had a net profit of $45.99 million.

Based on the recent corporate insider activity of 76 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.