Jazz Pharmaceuticals, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason Gerberry from Bank of America Securities reiterated a Buy rating on the stock and has a $247.00 price target.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Jason Gerberry has given his Buy rating due to a combination of factors surrounding Jazz Pharmaceuticals’ promising developments in their pipeline. The company has reported favorable Phase 3 results from the HERIZON-GEA-01 trial for their drug Ziihera (zani) in gastric cancer, indicating that it could become a new standard of care for patients with amplified HER2 expression. This potential approval opens up a significant market opportunity, with estimated peak sales exceeding $600 million in the US and $1.1 billion globally.
Furthermore, the trial results showed that both the zani/chemo doublet and the zani/chemo/PD1 triplet achieved statistically significant improvements in progression-free survival, with the triplet also hitting overall survival at the first interim analysis. These findings suggest a strong clinical benefit, reinforcing the drug’s potential impact. Gerberry’s rating also considers the company’s undemanding valuation and underappreciated growth prospects, leading to a raised price objective of $247, reflecting increased confidence in the company’s future performance.
Gerberry covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Jazz Pharmaceuticals, and Alkermes. According to TipRanks, Gerberry has an average return of 10.7% and a 59.75% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $205.00 price target.