Piper Sandler lowered the firm’s price target on Jazz Pharmaceuticals (JAZZ) to $147 from $176 and keeps an Overweight rating on the shares. The firm notes Jazz reported Q1 non-GAAP adjusted diluted EPS of $1.68 on revenue of $897.8M, compared to Street estimates of $4.66 and $983.8M, respectively. It’s a sizable top-line miss, owing in part to weakness out of the oncology segment and in part to a light Q1 for Epidiolex, Piper adds.
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