Jazz Pharmaceuticals price target raised to $213 from $182 at BofA

BofA raised the firm’s price target on Jazz Pharmaceuticals (JAZZ) to $213 from $182 and keeps a Buy rating on the shares. The Phase 3 HERIZON-GEA-01 study is evaluating two zanidatamab-based regimens, notes the analyst, who continues to see Jazz’s Ziihera as “underappreciated” given upcoming data in gastric cancer and read-across to breast cancer. Gastroesophageal adenocarcinoma and breast cancer represent greater than $2B in peak U.S. sales, roughly split evenly, and the firm’s assessment supports “solid” odds of success of greater than 60%) for GEA as well as “attractive peak sales even under competitive market scenarios,” the analyst tells investors.