Jazz Pharmaceuticals price target raised to $205 from $185 at Morgan Stanley

Morgan Stanley analyst Sean Laaman raised the firm’s price target on Jazz Pharmaceuticals (JAZZ) to $205 from $185 and keeps an Overweight rating on the shares. Jazz reported positive topline results for the HERIZON-GEA-01 trial evaluating Ziihera, a bispecific HER2-directed antibody, in combination with chemotherapy, with or without BeOne Medicine’s (ONC) PD-1 inhibitor Tevimbra, as first-line treatment for HER2-positive locally advanced or metastatic GEA, but and while limited details were provided, Jazz indicated a highly competitive profile ahead of the sBLA submission in 1H26, the analyst tells investors in a research note. Ziihera plus chemotherapy and Ziihera plus tislelizumab and chemotherapy demonstrated highly statistically significant and clinically meaningful improvements in progression-free survival compared to the control arm, positioning Ziihera as a potential new standard of care for first-line HER2-positive GEA, replacing trastuzumab in this setting, the firm says.