Despite Jazz's solid current position, lack of meaningful diversification beyond Xyrem creates risk.
Following Jazz’s third-quarter earnings, we are lowering our fair value estimate to $146 from $152 to largely reflect our updated mid-term thinking for Xyrem growth. We lowered our near-term sales projections for Xyrem (narcolepsy/excessive daytime sleepiness) and Erwinaze (acute lymphoblastic leukemia) to fall in line with management’s revised top-line guidance. Our 2017 Xyrem sales forecast now falls toward the bottom of the company’s updated range of $1.18-1.20 billion (from $1.20-1.23 billio...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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