Jazz Pharmaceuticals' Neuroscience Pipeline Readouts In Focus: Analyst Lowers Price Target
Portfolio Pulse from Nabaparna Bhattacharya
Cantor Fitzgerald analyst Charles C. Duncan has reiterated an Overweight rating on Jazz Pharmaceuticals Plc (NASDAQ:JAZZ), but lowered the price target from $210 to $180 due to a new valuation methodology and a higher cost of capital assumption. Duncan also lowered the FY23 and FY24 EPS estimates significantly. However, he praised Jazz's Q2 2023 total revenues of $957.3 million, which exceeded estimates, and the company's progress in its commercial portfolio. The analyst also highlighted the potential of Jazz's Xywav and Epidiolex drugs.
August 14, 2023 | 7:25 pm
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Jazz Pharmaceuticals' price target has been lowered by Cantor Fitzgerald analyst Charles C. Duncan from $210 to $180. The FY23 and FY24 EPS estimates have also been significantly reduced. However, the company's Q2 2023 revenues and progress in its commercial portfolio have been praised.
The lowering of the price target and EPS estimates by the analyst could negatively impact the stock price in the short term. However, the positive comments about the company's Q2 2023 revenues and progress in its commercial portfolio could mitigate some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100