Teva Pharmaceutical Industries (NYSE:TEVA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Teva Pharmaceutical Industries (NYSE:TEVA) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $40.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.44% from the company’s current price.

Several other brokerages have also commented on TEVA. Piper Sandler raised their price target on shares of Teva Pharmaceutical Industries from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. TD Cowen initiated coverage on Teva Pharmaceutical Industries in a report on Thursday, October 1st. They issued a “buy” rating and a $55.00 price objective for the company. Leerink Partners started coverage on Teva Pharmaceutical Industries in a report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, UBS Group raised their target price on Teva Pharmaceutical Industries from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Teva Pharmaceutical Industries Stock Performance

Shares of Teva Pharmaceutical Industries stock traded down $0.27 during trading on Monday, hitting $40.84. 3,897,236 shares of the stock were exchanged, compared to its average volume of 6,798,162. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.67 and a current ratio of 0.88. Teva Pharmaceutical Industries has a 12 month low of $18.83 and a 12 month high of $42.02. The stock’s fifty day moving average is $37.64 and its 200 day moving average is $34.52. The stock has a market cap of $47.58 billion, a PE ratio of 67.82, a P/E/G ratio of 3.79 and a beta of 0.89.

Teva Pharmaceutical Industries (NYSE:TEVA) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $4.14 billion for the quarter. Teva Pharmaceutical Industries had a net margin of 4.08% and a return on equity of 32.64%. As a group, sell-side analysts anticipate that Teva Pharmaceutical Industries will post 2.00 EPS for the current year.

Insider Transactions at Teva Pharmaceutical Industries

In other news, insider Brian Savage sold 7,342 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $38.85, for a total value of $285,236.70. Following the completion of the sale, the insider directly owned 8,500 shares of the company’s stock, valued at approximately $330,225. This represents a 46.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roberto Mignone sold 367,600 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 374,959 shares of company stock worth $14,644,285 over the last 90 days. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Teva Pharmaceutical Industries by 2.2% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 45,956,714 shares of the company’s stock valued at $1,384,216,000 after purchasing an additional 1,004,941 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Teva Pharmaceutical Industries by 191.4% in the first quarter. WCM Investment Management LLC now owns 40,820,600 shares of the company’s stock valued at $1,157,264,000 after buying an additional 26,813,522 shares during the period. Altshuler Shaham Ltd lifted its holdings in shares of Teva Pharmaceutical Industries by 2.4% in the fourth quarter. Altshuler Shaham Ltd now owns 8,494,121 shares of the company’s stock valued at $268,670,000 after buying an additional 196,697 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Teva Pharmaceutical Industries by 5.8% in the second quarter. Wellington Management Group LLP now owns 7,671,157 shares of the company’s stock valued at $259,899,000 after buying an additional 419,329 shares during the period. Finally, Polar Capital Holdings Plc boosted its stake in Teva Pharmaceutical Industries by 24.4% during the fourth quarter. Polar Capital Holdings Plc now owns 4,987,690 shares of the company’s stock valued at $155,666,000 after buying an additional 978,608 shares in the last quarter. 54.05% of the stock is owned by institutional investors.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company headquartered in Tel Aviv, Israel. Founded in 1901, the company develops, manufactures and distributes generic medicines, specialty pharmaceuticals, active pharmaceutical ingredients and biosimilars.

Teva’s portfolio includes medicines for conditions affecting the central nervous system, respiratory system and other therapeutic areas. Its branded and specialty products include treatments such as Copaxone for multiple sclerosis, Austedo for movement disorders, Ajovy for migraine prevention and Uzedy for schizophrenia.