UBS analyst Ashwani Verma downgraded Jazz Pharmaceuticals (JAZZ) to Neutral from Buy with a price target of $188, up from $163. Following the strong Phase 3 GEA update and a 25% stock move, Jazz now appears fairly valued with a balanced risk/reward profile, the analyst tells investors in a research note. The positive study meaningfully improves the outlook, but with recent oncology momentum already reflected in the valuation and no major catalysts ahead, UBS sees limited upside/downside.
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