JAZZ - Jazz Pharma raised at Piper Sandler on GW Pharma deal

Jazz Pharmaceuticals (JAZZ) raised to overweight from neutral at Piper Sandler after announcing agreement to acquire GW Pharmaceuticals (GWPH). JAZZ down 2%.``Epidiolex is the kind of durable asset that renders the potential erosion of the oxybate franchise as less problematic, positioning JAZZ for sustainable LT EBITDA growth,'' according to Piper Sandler analyst David Amsellem.Amsellem says this "is the kind of transaction, in our view, that essentially puts JAZZ’s `terminal value' problem to bed."Raises PT to $175 from $150.Earlier, In Jazz acquisition of GW Pharma, Epidiolex is tip of cannabinoid iceberg.Earlier, Jazz Pharmaceuticals looked at GW deal for `quite some time,' CNBC says.Earlier, Zogenix, Zynerba jump on positive read through from GW Pharma/Jazz.Recall Jan. 29, Jazz Pharma is down as Morgan Stanley cuts rating; competitive threat cited.

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Jazz Pharma raised at Piper Sandler on GW Pharma deal