JP Morgan Says Jazz Pharmaceuticals Positioned For 'Organic Growth And Acquisition'

Benzinga

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.

"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.

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