In a report released today, Esther Rajavelu from Oppenheimer maintained a Buy rating on Jazz Pharmaceuticals (JAZZ – Research Report), with a price target of $175. The company’s shares opened today at $120.21, close to its 52-week low of $113.52.
“JAZZ announced the termination of its Erwinaze license agreement with Porton Biopharma Limited (PBL) at the expiration of the current term on 12/31/2020. We estimate Erwinaze, approved for the treatment of AML patients with hypersensitivity to E.coli-derived asparaginase, could account for ~5% of JAZZ revenues in 2020. Erwinaze is not a key value driver to our thesis, and we maintain our Outperform rating on a lower price target of $175 (vs. $180) due to the removal of Erwinaze revenues post 2020. We continue to believe 2019 could be a breakthrough year for JAZZ with potential new product launches and several clinical readouts across its pipeline.”
According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -2.9% and a 44.4% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rocket Pharmaceuticals Inc, and Aerie Pharma.
Currently, the analyst consensus on Jazz Pharmaceuticals is a Moderate Buy with an average price target of $174.33.
Jazz Pharmaceuticals’ market cap is currently $7.49B and has a P/E ratio of 14.68. The company has a Price to Book ratio of 2.47.
Based on the recent corporate insider activity of 89 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.