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Fly News Breaks for August 21, 2019
Aug 21, 2019 | 06:14 EDT
Piper Jaffray analyst David Amsellem downgraded Jazz Pharmaceuticals to Neutral from Overweight after conducting a survey of 30 current prescribers of Xyrem in order to gauge whether there will be physician appetite for using recently approved Wakix, either in replacement or in combination. The overall level of enthusiasm for Wakix was high enough to cause him "meaningful concern" about the trajectory of Xyrem starting next year following the competing drug's launch, said Amsellem, who now questions if Jazz shares can see meaningful multiple expansion in the next 6-12 months. He lowered his price target on Jazz shares to $142 from $205.
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