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Fly News Breaks for May 11, 2016
JAZZ
May 11, 2016 | 07:35 EDT
Leerink analyst Jason Gerberry raised his price target for Jazz Pharmaceuticals to $198 from $167 given the company's lack of financial leverage and "strong" organic growth. Jazz Pharmaceuticals reported mixed Q1 results, with sales missing his forecast but raising 2016 EPS guidance, Gerberry tells investors in a research note. The company also updated its Xyrem patent settlement terms, calling for generic entry in 2026, with the analyst saying he continues to view the patent settlement as an important way for the company to unlock value. Gerberry reiterates an Outperform rating on the shares.
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