Barclays Lifts Estimates and Price Target on Jazz Pharmaceuticals (JAZZ) Following Q4 Results

Barclays boosted estimates and its price target earlier on Overweight-rated Jazz Pharmaceuticals (NASDAQ: JAZZ) from $50 to $60 following in-line Q4 results.

The firm noted management disclosed another 19% price increase for Xyrem which was both larger (13%) and earlier than the firm's expectations. Volume also continues to increase. JAZZ indicated that there are 9,300 patients on active therapy, which is up 8% Y/Y and 3% sequentially, the firm notes.

"We believe JAZZ can continue to grow volumes as the company harvests the gains from marketing/patient support initiatives put in place over the last year. JAZZ continues to have three avenues for volume growth: 1) new prescribers; 2) increasing scripts per prescriber; and 3) improving patient fulfillment and persistency."

The firm raised FY12 EPS to $4.16 from $4.06.

JAZZ remains the firm's top pick in branded-spec pharma based on its valuation and
growth prospects.

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 $50.55 yesterday.

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