In a report released today, Esther Rajavelu from Oppenheimer initiated coverage with a Buy rating on Jazz Pharmaceuticals (JAZZ) and a price target of $180. The company’s shares opened today at $122.33, close to its 52-week low of $113.52.
Rajavelu wrote:
“On 12/11/18, we initiated 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 to explore other capital deployment activities, e.g. business development and opportunistic share repurchases.”
According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -10.7% and a 26.7% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Aerie Pharma, and Teva Pharma.
Currently, the analyst consensus on Jazz Pharmaceuticals is a Strong Buy with an average price target of $186.55, implying a 52.5% 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 $7.48B and has a P/E ratio of 14.66. The company has a Price to Book ratio of 2.47.
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.