Teva Pharmaceutical Industries (NYSE:TEVA) Hits New 1-Year High After Analyst Upgrade

Shares of Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) hit a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $44.00 to $56.00. Piper Sandler currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as high as $43.72 and last traded at $43.6740, with a volume of 77,497 shares changing hands. The stock had previously closed at $43.24.

TEVA has been the topic of a number of other research reports. Zacks Research downgraded Teva Pharmaceutical Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. HC Wainwright assumed coverage on Teva Pharmaceutical Industries in a research report on Monday, November 2nd. They issued a “buy” rating and a $52.00 price objective for the company. Leerink Partners lifted their target price on Teva Pharmaceutical Industries from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. UBS Group lifted their target price on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. boosted their target price on Teva Pharmaceutical Industries from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.15.

Insiders Place Their Bets

In other Teva Pharmaceutical Industries news, Director Roberto Mignone sold 367,600 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $39.06, for a total transaction of $14,358,456.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Savage sold 7,342 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $38.85, for a total value of $285,236.70. Following the sale, the insider owned 8,500 shares of the company’s stock, valued at approximately $330,225. This represents a 46.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 420,942 shares of company stock worth $16,572,473 over the last three months. Insiders own 0.54% of the company’s stock.

Top Teva Pharmaceutical Industries Stories

Here are a few of the latest stories about TEVA:

• Positive Sentiment: Piper Sandler raised its price target to $56 from $44 and reiterated an “overweight” rating, implying substantial upside from the cited $43.17 share price. Piper Sandler recommendations
• Positive Sentiment: At its R&D Day, Teva outlined a goal of $6–7 billion in innovative-medicines revenue by 2030 and presented pipeline updates, including potential first-in-class treatments for Tourette syndrome, celiac disease and IBD-related scarring. The growth target and pipeline progress may strengthen expectations for Teva’s shift toward innovative medicines, though delivery will depend on development and commercialization. Teva R&D Day and 2030 revenue target
• Negative Sentiment: Healthcare shares were softer in Wednesday afternoon trading, with the NYSE Healthcare Index down 0.6%, indicating a less supportive sector backdrop. Healthcare sector trading update

Institutional Trading of Teva Pharmaceutical Industries

Several institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in shares of Teva Pharmaceutical Industries by 547.1% during the first quarter. Cornerstone Planning Group LLC now owns 893 shares of the company’s stock worth $27,000 after purchasing an additional 755 shares during the period. Root Financial Partners LLC acquired a new stake in Teva Pharmaceutical Industries during the third quarter worth approximately $33,000. Western Wealth Management LLC acquired a new stake in Teva Pharmaceutical Industries during the first quarter worth approximately $43,000. Sunbelt Securities Inc. acquired a new stake in Teva Pharmaceutical Industries during the first quarter worth approximately $45,000. Finally, EverSource Wealth Advisors LLC increased its stake in Teva Pharmaceutical Industries by 64.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,658 shares of the company’s stock worth $50,000 after acquiring an additional 647 shares during the period. 54.05% of the stock is currently owned by institutional investors.

Teva Pharmaceutical Industries Stock Performance

The stock has a market cap of $50.36 billion, a P/E ratio of 100.73, a price-to-earnings-growth ratio of 3.97 and a beta of 0.97. The company has a current ratio of 0.95, a quick ratio of 0.74 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $39.88 and a 200 day simple moving average of $34.96.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its earnings results on Tuesday, November 3rd. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. Teva Pharmaceutical Industries had a net margin of 2.94% and a return on equity of 33.20%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Teva Pharmaceutical Industries Ltd. will post 1.98 earnings per share for the current year.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries is a global pharmaceutical company that develops, manufactures and markets generic medicines, specialty medicines and biosimilars. Its portfolio spans treatments for conditions including neurological disorders, respiratory diseases and cancer, alongside a broad range of generic medicines across therapeutic areas. Founded in Jerusalem in 1901, Teva has grown from a regional pharmaceutical business into an international company. It serves patients and healthcare providers in markets around the world, including North America, Europe and other regions.