Strong Buy Rating on Robust Financial Outlook and Promising Pipeline – TipRanks Financial Blog

Jazz Pharmaceuticals (JAZZ – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph Thome from TD Cowen maintained a Buy rating on the stock and has a $225.00 price target.

Joseph Thome has given his Buy rating due to a combination of factors influencing Jazz Pharmaceuticals’ strong financial and operational outlook. The company’s fourth-quarter revenue met expectations, bolstered by a stable oxybate business and the growth of Epidiolex, reflecting a robust product portfolio. Moreover, Jazz’s management provided a revenue forecast for the fiscal year 2024 that aligns with market consensus, projecting a range of $4 to $4.2 billion, which suggests a clear trajectory of growth for the company. The anticipated completion of the rolling BLA for zanidatamab in the first half of 2024 further strengthens the case for a positive outlook, as it could represent a significant revenue opportunity exceeding $2 billion.
Thome’s optimism is also rooted in the company’s neuroscience franchise, which continues to deliver solid revenue, and the oncology business, which remains a consistent performer. Jazz’s commitment to investing in commercial efforts, particularly in the IH space with the Xywav launch, is expected to drive growth despite intensifying competition in the market. Management’s reiterated vision of achieving $5 billion in revenue by 2025 indicates confidence in the company’s strategic direction and operational capabilities. Thome’s assessment that Jazz’s shares are undervalued based on its current product offerings alone, not yet factoring in potential contributions from its pipeline assets, underscores the investment opportunity represented by Jazz Pharmaceuticals.

In another report released on February 23, Barclays also assigned a Buy rating to the stock with a $235.00 price target.

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Jazz Pharmaceuticals (JAZZ) Company Description:

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. Its product portfolio includes: XYREM, ERWINAZETM, PRIALT, intrathecal infusion, FAZACLO and LUVOX CR. The company was founded by Bruce C. Cozadd in March 2003 and is headquartered in Dublin, Ireland.

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