Jazz initiated with Market Perform on uncertainty at Raymond James

Raymond James last night initiated coverage of Jazz Pharmaceuticals with a Market Perform rating and no price target. The analyst says Jazz has been effectively managing its flagship oxybate franchise with strong Xywav performance in narcolepsy. However, oxybate competition has been heating up, which creates a level of uncertainty with the longer-term durability of that key franchise, the analyst tells investors in a research note.