Physician Survey Lifts Confidence in Jazz Pharmaceuticals (JAZZ) JZP-110, Piper Jaffray Says

Piper Jaffray analyst David Amsellem reiterating an Overweight rating and $208 price target on Jazz Pharmaceuticals (NASDAQ: JAZZ) after a physician survey heightened their confidence in the JZP-110 opportunity.

Amsellem commented, "We conducted a survey of 25 physicians who treat significant numbers of narcolepsy and obstructive sleep apnea (OSA) patients with excessive daytime sleepiness (EDS). The feedback clearly points to a strong physician appetite for new stimulant treatment options in this setting, suggesting to us that Jazz’s JZP-110 is well-positioned to gain significant traction (assuming of course that the data we see in Phase III is largely in keeping with its impressive Phase IIb results; we should see Phase III results sometime next year). We believe peak sales potential for JZP-110 of $400M-$500M is realistic, driving high visibility on a long-term EPS CAGR for JAZZ approaching 20%. This translates into an attractive valuation in the context of a 2016 P/E of 16x our EPS estimate of $11.11"

For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.

Shares of Jazz Pharmaceuticals closed at $174.86 yesterday.

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