Piper Sandler raised the firm’s price target on Jazz Pharmaceuticals to $188 from $171 and keeps an Overweight rating on the shares following the company’s virtual R&D event, spotlighting its HER2-targeted bispecific antibody zanidatamab across a range of solid tumor malignancies. Beyond development in biliary tract carcinoma and first-line gastroesophageal adenocarcinoma, management is aiming to initiate a Phase III study in the second half of 2024 in advanced metastatic breast cancer patients who have progressed on treatment with trastuzumab/deruxtecan. The firm notes that its model, for now, reflects contribution only in BTC.
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