Jazz Pharmaceuticals (JAZZ) PT Raised to $205 at Truist Securities

Truist Securities analyst Joon Lee raised the price target on Jazz Pharmaceuticals (NASDAQ: JAZZ) to $205.00 (from $200.00) while maintaining a Buy rating.

The analyst commented: "Modeyso Commercial Strategy Bodes Well For Robust Uptake; After the close, JAZZ hosted a webcast to highlight commercial strategy for the recently approved Modeyso (dordaviprone) for an ultra-rare form of aggressive glioma (H3 K27M mutation). Lack of competition for this high unmet need, highly lethal brain tumor, sets up Modeyso for robust commercial uptake. Positive results from the ongoing confirmatory Ph3 ACTION Trial could further move Modeyso upstream in the treatment paradigm. We note JAZZ received PRV for the approval, which has a Street value of >$150M. We update our model to reflect Modeyso WAC and duration of therapy based on clinical data, driving us to raise our PT from $200 to $205."

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