UPDATE: Gabelli Upgrades Teva Pharma (TEVA) to Buy Following Recent Sell-Off
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Price: $36.77 +0.68%
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Gabelli is upgrading its rating on shares of Teva Pharma (NASDAQ: TEVA) to Buy from Hold and is maintaining its price target of $78.
On April 21Biogen-Idec reported that its BG-12 cut MS relapses at two years by 49% vs. placebo and reduced disability progression by 38%. On this news, shares of TEVA dropped $4.16 which the firm believes investors should take advantage of.
TEVA stated that its Phase III once-daily oral MS pill, laquinimod, cut relapses by 23% and disability progression by 36% nearly two weeks ago.
The firm believes that these are really good signs for the company and places the company into a buying and growing position.
Gabelli comments, "Copaxone had in-market sales of $3.3 billion in 2010, up 17%. Despite new competition, we expect Teva to remain the MS market leader. The company’s generic business will also remain the global leader and is expected to benefit from the recent acquisition of Ratiopharm."
For more ratings news on Teva Pharma click here and for the rating history of Teva Pharma click here.
Shares of Teva Pharma closed at $45.01 yesterday.
On April 21Biogen-Idec reported that its BG-12 cut MS relapses at two years by 49% vs. placebo and reduced disability progression by 38%. On this news, shares of TEVA dropped $4.16 which the firm believes investors should take advantage of.
TEVA stated that its Phase III once-daily oral MS pill, laquinimod, cut relapses by 23% and disability progression by 36% nearly two weeks ago.
The firm believes that these are really good signs for the company and places the company into a buying and growing position.
Gabelli comments, "Copaxone had in-market sales of $3.3 billion in 2010, up 17%. Despite new competition, we expect Teva to remain the MS market leader. The company’s generic business will also remain the global leader and is expected to benefit from the recent acquisition of Ratiopharm."
For more ratings news on Teva Pharma click here and for the rating history of Teva Pharma click here.
Shares of Teva Pharma closed at $45.01 yesterday.
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