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

Teva Pharmaceutical Industries (NYSE:TEVA) had its target price boosted by Piper Sandler from $30.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 26.96% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Wall Street Zen downgraded Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. UBS Group increased their target price on shares of Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Bank of America lifted their target price on shares of Teva Pharmaceutical Industries from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.88.

Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock opened at $31.51 on Monday. Teva Pharmaceutical Industries has a 12 month low of $12.47 and a 12 month high of $31.58. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 2.31. The business’s 50 day simple moving average is $24.89 and its 200 day simple moving average is $20.28. The company has a market cap of $36.14 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 1.86 and a beta of 0.67.

Insider Activity

In other news, Director Roberto Mignone sold 77,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $30.24, for a total value of $2,340,576.00. Following the completion of the transaction, the director directly owned 367,600 shares in the company, valued at approximately $11,116,224. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Daniell sold 115,468 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total transaction of $3,311,622.24. Following the sale, the vice president directly owned 48,384 shares in the company, valued at $1,387,653.12. This trade represents a 70.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 622,060 shares of company stock valued at $17,076,965. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several large investors have recently added to or reduced their stakes in TEVA. American Century Companies Inc. increased its stake in Teva Pharmaceutical Industries by 5.5% in the 1st quarter. American Century Companies Inc. now owns 228,420 shares of the company’s stock worth $3,511,000 after acquiring an additional 11,897 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Teva Pharmaceutical Industries by 18.4% during the 1st quarter. Gabelli Funds LLC now owns 435,075 shares of the company’s stock valued at $6,687,000 after acquiring an additional 67,575 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Teva Pharmaceutical Industries by 2.2% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 250,106 shares of the company’s stock worth $3,844,000 after purchasing an additional 5,344 shares in the last quarter. Trexquant Investment LP increased its position in shares of Teva Pharmaceutical Industries by 114.8% in the first quarter. Trexquant Investment LP now owns 203,909 shares of the company’s stock worth $3,134,000 after purchasing an additional 108,986 shares during the last quarter. Finally, Tema Etfs LLC raised its stake in Teva Pharmaceutical Industries by 12.5% in the first quarter. Tema Etfs LLC now owns 28,861 shares of the company’s stock valued at $444,000 after purchasing an additional 3,199 shares in the last quarter. Institutional investors own 54.05% of the company’s stock.

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.