Jazz Pharmaceuticals (JAZZ): Raising PT After Vyxeos Expert Feedback - BMO
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BMO Capital analyst, Gary Nachtman, reiterated his Outperform rating on shares of Jazz Pharmaceuticals (NASDAQ: JAZZ) after he received very positive feedback from two physician experts in AML regarding the prospects for Vyxeos as a new treatment paradigm.
The analyst stated "They were extremely enthusiastic based on the impressive Phase 3 data. Thus, we are raising our Vyxeos forecasts and bumping up our target to $195. We reiterate our Outperform rating. If the generic Xyrem overhang is ultimately lifted at some point (we are optimistic it will be), we believe underappreciated products like Vyxeos will become more of a focus for investors and help drive higher numbers and multiple expansion."
The improved opportunity led the analyst to increase his price target to $195 from $193.
Shares of Jazz Pharmaceuticals closed at $121.42 yesterday.
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