Jazz Pharmaceuticals price target lowered to $113 from $117 at UBS

UBS lowered the firm’s price target on Jazz Pharmaceuticals to $113 from $117 and keeps a Neutral rating on the shares ahead of the Q2 report. The company has limited pipeline catalysts and growing pressures on its base business, the analyst tells investors in a research note. Following the essential tremor failure, the firm believes Jazz stock performance is contingent on capital allocation and 2024 performance, both of which “can be underwhelming.” Although the company plans to fulfill its “Vision 2025” through acquisitions, a better outcome for the stock may be significant share repurchase, says UBS.