Oppenheimer analyst Esther Rajavelu raised the price target on Jazz Pharmaceuticals (NASDAQ: JAZZ) to $179.00 (from $176.00) while maintaining a Outperform rating.

The analyst commented, "We update our JAZZ model following 3Q19 results that topped our estimates for both revenue (Xyrem beat) and adjusted earnings. Management increased both top-line and earnings guidance driven by continued base business momentum. Given its diverse portfolio of products, stable cash flows, and strong balance sheet, we continue to believe JAZZ is well positioned to drive value through internal investments and strategic collaborations. At current trading levels, we view JAZZ as an attractive investment opportunity into year-end and 2020, and update our revenue and earnings estimates to reflect business updates."