Analyst Joseph Thome of TD Cowen reiterated a Buy rating on Jazz Pharmaceuticals, retaining the price target of $205.00.
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Joseph Thome has given his Buy rating due to a combination of factors including Jazz Pharmaceuticals’ strong financial performance and promising future prospects. The company’s Q3 revenue aligned with expectations, bolstered by a notable performance from Epidiolex. Additionally, Jazz has shown growth in its patient base for Xywav, particularly in the idiopathic hypersomnia (IH) indication, which is expected to drive near-term growth.
Furthermore, Thome is optimistic about the upcoming pivotal PFS data from the Phase III study of Ziihera in first-line gastric esophageal adenocarcinoma (GEA), anticipated in late Q4. Despite previous delays, the study is progressing without further setbacks, and there is confidence in its statistical power to meet primary endpoints. This, combined with strong Phase II data and expert opinions, suggests a potential significant upside for Jazz’s stock, reinforcing the Buy recommendation.
In another report released on October 27, J.P. Morgan also maintained a Buy rating on the stock with a $199.00 price target.