Why This Teva Pharmaceutical Analyst Is Turning Bullish On The Austedo Franchise
Portfolio Pulse from Priya Nigam
Shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) rose after analysts, including Piper Sandler's David Amsellem, upgraded the stock from Neutral to Overweight and increased the price target from $12 to $19, citing potential growth from the Austedo franchise, improved U.S. generics business, and better capital structure. The Austedo franchise is expected to significantly contribute to Teva's revenues, growing from 10% in 2024 to 18% by 2032, with high gross margins and the ability to drive corporate EBITDA stability.
February 12, 2024 | 4:53 pm
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POSITIVE IMPACT
Teva's stock upgrade by analysts, including a price target increase from $12 to $19, is based on the growth potential of the Austedo franchise and improvements in the U.S. generics business and capital structure.
The upgrade and price target increase by analysts, particularly due to the potential of the Austedo franchise and improved business fundamentals, are likely to positively impact investor sentiment and Teva's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is mentioned as a market participant alongside Teva's Austedo in the treatment area, with Teva's extended release form of Austedo leveling the playing field with NBIX's Ingrezza.
While the article highlights Teva's Austedo as a competitor to NBIX's Ingrezza, the direct impact on NBIX's stock price is uncertain without specific performance data or market reaction. However, increased competition could influence market dynamics.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50