Bull of the Day: Jazz Pharmaceuticals (JAZZ) | Nasdaq.com

Following this important FDA approval, several Wall Street investment banks updated their thesis on JAZZ. Janney Montgomery Scott analyst Ken Trbovich raised his price target on $192 from $180 while maintaining a Buy rating.

Trbovich believes the company can benefit from Vyxeos technology by internally developing an oncology pipeline for which the company is not currently receiving credit. He says clients should expect JAZZ to raise guidance on Vyxeos, which boosts his own confidence in the company outlook for 2018 and beyond.

Cowen analyst, Ken Cacciatore, reiterated his Outperform rating on shares of JAZZ and raised his price target to $190 after the company provided perspectives from KOLs, or Key Opinion Leaders, on Vyxeos. Here was one such view…

“Vyxeos is the first chemotherapy to demonstrate an overall survival advantage over the standard of care in a Phase 3 randomized study of older adults with newly-diagnosed therapy-related AML or AML with myelodysplasia-related changes,” said Jeffrey E. Lancet, MD, Chair of the Department of Malignant Hematology at Moffitt Cancer Center.  “The prognosis for these patients is poor, so the FDA approval of this new drug provides a welcome therapeutic advance.”

Cacciatore noted “the impressive data that led to its approval, its place in the AML treatment paradigm, the addressable market, the pricing strategy & the value proposition. This commentary – in addition to our clinical consultants’ – reinforces our conviction on this potential $300 million drug. We continue to believe the totality of these assets are undervalued.”

BMO Capital analyst Gary Nachman reiterated an Outperform rating and $196 price target on JAZZ, noting that approval timing was on the earlier side of expectations, and there are no age restrictions in the indication, which is an upside surprise.

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Bull of the Day: Jazz Pharmaceuticals (JAZZ) – Nasdaq.com.