RBC Capital raised the firm’s price target on Jazz Pharmaceuticals (JAZZ) to $194 from $155 and keeps an Outperform rating on the shares. The firm notes the company announced positive topline data from HERIZON-GEA-01, and while exact numbers were not broken out, the overall survival and progression-free survival hit in the triplet, improvements across subgroups, and “clinically meaningful” benefits suggests potential for zani to become the new standard of care in GEA. Overall, the HORIZON-GEA-01 success reinforces Jazz’s strategic shift towards a more diversified, oncology-focused pipeline and now provides a clearer late-stage value driver in their portfolio to help offset any future oxybate and legacy franchise softness, RBC adds.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JAZZ:
- Promising Phase 3 Trial Results and Expanding Indications Drive Buy Rating for Jazz Pharmaceuticals
- Jazz Pharmaceuticals price target raised to $205 from $185 at Morgan Stanley
- Jazz Pharmaceuticals rises 20.8%
- Jazz Pharmaceuticals Stock Surges on Positive Phase 3 Trial Results
- Promising HERIZON-GEA Trial Results Drive Buy Rating for Jazz Pharmaceuticals’ Ziihera