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Shares of Jazz Pharmaceuticals (NASDAQ: JAZZ) are up almost 20 percent over the past five trading sessions.
JP Morgan started coverage of the company with an overweight rating and $190 price target.
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“In the context of an ongoing wave of consolidation in the specialty pharmaceuticals sector, we see Jazz as well positioned from both an organic growth and acquisition standpoint,” writes analyst Jessica Fye.
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JP Morgan further comments that the company is diversifying away from from its core asset with acquisitions. The company has a borrowing allowance of $3 billion.
On Tuesday, Dow Jones reported Allergan (NYSE: AGN) is interested in purchasing Salix Pharmaceuticals (NASDAQ: SLXP), a competitor in the acquisition space. This news moved Jazz almost four percent higher to $158.14.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.