#6 - Jazz Pharmaceuticals (NASDAQ:JAZZ)
If you’re a fan of mid-cap stocks, Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is one you’ll want to watch. JAZZ stock is down 10.9% in 2024, but analysts give the stock a Moderate Buy rating with a $173.07 consensus price target that would give shareholders a 58% upside.
The company is best known for its seizure drug, Epidiolex. However, the reason for the bullish sentiment is the company’s clinical trial drug, Zanidatamab, which targets HER2-positiv cancers. The drug is in Phase 3 trials and may still receive FDA approval in 2024. The company is forecasting $2 billion in annual sales when the drug achieves peak performance. That would add about 50% to the company’s 2023 topline.
In the short term, long-term investors should pay attention to short interest on JAZZ stock, which is up a whopping 73% in September 2024. However, if the stock does pull back, that could be an enticing buying opportunity for patient investors.
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.
Read More - Current Price
- $111.55
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $173.43 (55.5% Upside)
