Piper Sandler Forecasts Strong Price Appreciation for Teva Pharmaceutical Industries (NYSE:TEVA) Stock

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price hoisted by investment analysts at Piper Sandler from $42.00 to $44.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 40.87% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America upped their target price on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. UBS Group boosted their price objective on shares of Teva Pharmaceutical Industries from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Truist Financial increased their target price on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Teva Pharmaceutical Industries Stock Performance

NYSE TEVA traded up $0.15 during trading on Tuesday, hitting $31.23. The company’s stock had a trading volume of 1,128,932 shares, compared to its average volume of 7,212,407. Teva Pharmaceutical Industries has a 52 week low of $14.99 and a 52 week high of $37.35. The firm has a market cap of $35.91 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 3.25 and a beta of 0.86. The firm has a 50 day moving average price of $33.23 and a 200 day moving average price of $32.68. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. The company had revenue of $3.98 billion during the quarter. Teva Pharmaceutical Industries had a return on equity of 43.53% and a net margin of 9.01%. Equities research analysts forecast that Teva Pharmaceutical Industries will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other Teva Pharmaceutical Industries news, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction on Friday, May 1st. The shares were sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the sale, the insider owned 80,760 shares in the company, valued at $2,825,792.40. The trade was a 64.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Eliyahu Sharon Kalif sold 106,563 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $34.10, for a total transaction of $3,633,798.30. Following the completion of the sale, the executive vice president directly owned 65,621 shares in the company, valued at $2,237,676.10. This trade represents a 61.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 465,931 shares of company stock valued at $16,332,989. 0.54% of the stock is owned by insiders.

Institutional Trading of Teva Pharmaceutical Industries

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Teva Pharmaceutical Industries by 24.6% in the first quarter. AQR Capital Management LLC now owns 23,955 shares of the company’s stock valued at $368,000 after acquiring an additional 4,732 shares during the period. Focus Partners Wealth lifted its stake in Teva Pharmaceutical Industries by 4.5% during the first quarter. Focus Partners Wealth now owns 40,074 shares of the company’s stock worth $616,000 after purchasing an additional 1,739 shares during the period. Franklin Resources Inc. acquired a new stake in Teva Pharmaceutical Industries during the second quarter valued at approximately $255,000. Flow Traders U.S. LLC acquired a new stake in Teva Pharmaceutical Industries during the second quarter valued at approximately $238,000. Finally, Cerity Partners LLC grew its stake in shares of Teva Pharmaceutical Industries by 2.9% in the 2nd quarter. Cerity Partners LLC now owns 45,837 shares of the company’s stock valued at $768,000 after purchasing an additional 1,291 shares during the period. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.