Jazz Pharmaceuticals upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Mohit Bansal upgraded Jazz Pharmaceuticals (JAZZ) to Overweight from Equal Weight with a price target of $170, up from $130. The recent IP settlement on the $1B Epidiolex franchise derisks the company’s long-term financials, the analyst tells investors in a research note. Wells Fargo adds that it sees a “high probability of success” for Zani – zanidatamab – first-line GEA, or gastroesophageal adenocarcinoma trial, calling it a “transformative catalyst” with a read-out expected in Q2 of this year.