Mizuho Securities Downgrades Jazz Pharmaceuticals (JAZZ) to Neutral

Mizuho Securities downgraded Jazz Pharmaceuticals (NASDAQ: JAZZ) from Outperform to Neutral with a price target of $140.00 (from $164.00) on valuation.

Analyst Irina Koffler commented, "We are downgrading Jazz to NEUTRAL from BUY and lowering our PT from $164 to $140 on revised valuation methodology. Additionally, the company missed on the top and bottom line in 3Q:15, and lowered 2015 guidance. We model below consensus 2016 EPS and can no longer support a Buy rating in spite of our cautiously optimistic outlook on a 2016 Xyrem generic settlement."

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 $139.99 yesterday.

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