BMO Capital Cuts Price Target on Jazz Pharmaceuticals (JAZZ) to $192
- S&P, Nasdaq hit highs on gains in health, tech stocks
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Sibanye Gold (SBGL) to Acquire Stillwater Mining Company (SWC) in $2.2B Deal
- Exclusive: ECB rejects Monte Paschi's request for more time to raise cash - source
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
BMO Capital maintained an Outperform rating on Jazz Pharmaceuticals (NASDAQ: JAZZ), and cut the price target to $192.00 (from $195.00), following the company's 3Q earnings report. Revenue was reported at $374mn, missing the consensus estimate of $389mn. While revenue fell short, it was mainly due to the well known supply challenges with Erwinaze. EPS of $2.57 was ahead of $2.61 estimates.
Analyst Gary Nachman commented, "JAZZ reported 3Q revenue of $374mn vs. BMO/consensus of $381mn/ $389mn and EPS of $2.57 vs. BMO/consensus $2.56/$2.61. The revenue shortfall was driven mainly by Erwinaze as supply issues continue. Importantly, Xyrem had a solid 3Q and management provided an update on Xyrem LCE with new low sodium formulations that should be able to reach the market within the next few years and help protect the franchise. JAZZ affirmed 2016 guidance, but we lowered our estimates modestly. At current levels we believe the stock is very compelling and reiterate our Outperform."
Shares of Jazz Pharmaceuticals closed at $106.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- BMO Capital Raises Price Target on Dollar Tree (DLTR) to $96; Reiterates Market Perform
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!