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Jazz Pharma On Track To Report Top-Line, Late-Stage Results Of JZP-110 By December

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Jazz Pharma On Track To Report Top-Line, Late-Stage Results Of JZP-110 By December

Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ: JAZZ) "is well positioned to deliver a long-term EPS CAGR in at least the mid-to-high teens," according to a note from Piper Jaffray.

Analyst David Amsellem noted that earnings growth will come from Xyrem, along with growing contribution from Defitelio and eventually JZP-110.

The analyst said Jazz remains on track to report top-line Phase III results of JZP-110 for the treatment of excessive daytime sleepiness (EDS) associated with narcolepsy and obstructive sleep apnea (OSA) before year-end.

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Amsellem, who reiterated his Overweight rating and $186 price target on the stock, said he gained further insight into the studies evaluating JZP-110 as the company had "broadened the inclusion criteria for the Phase III studies to allow patients with a body mass index (BMI) of up to 45 to enroll," versus the previous limit of a 40 BMI.

The analyst also noted encouraging human abuse liability (HAL) data for JZP-110 that showed the drug at all three doses tested was associated with "lower rates of peak liking, the primary endpoint, versus a 90 mg dose of phentermine (p<0.05), a stimulant which notably is classified as a schedule IV controlled substance."

"Even if JZP-110 were to receive a schedule III designation (recall that EDS market leader modafinil is a schedule IV product), the impact in our view would be a net neutral given that refills (albeit a more limited number) are still permitted," Amsellem added.

At the time of writing, shares of Jazz Pharma was trading essentially flat at $149.00.

Latest Ratings for JAZZ

DateFirmActionFromTo
Mar 2019SunTrust Robinson HumphreyInitiates Coverage OnBuy
Mar 2019Morgan StanleyMaintainsEqual-WeightEqual-Weight
Feb 2019BMO CapitalMaintainsOutperformOutperform

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