Piper Sandler Reiterates Overweight Rating on Teva Pharma (TEVA)

(Updated - May 13, 2024 9:33 AM EDT)

Piper Sandler analyst David Amsellem reiterated an Overweight rating and raised the price target to $20.00 price target (from $19) on Teva Pharma (NYSE: TEVA).

The analyst commented, "We recently hosted a dinner with Teva senior management and investors. Brand opportunities certainly were a key area of focus, and with that in mind, we gained more insights into TEV-‘749, the company’s long-acting injectable (LAI) form of the atypical antipsychotic olanzapine, as well as more insights into TEV-‘248, an inhalable corticosteroid/short-acting beta agonist (ICS/SABA) combination incorporated into the company’s multi-dose dry powder inhaler (MDPI) for rescue treatment of asthma exacerbations. We reiterate our Overweight rating and raise our PT to $20 from $19 (owing mainly to higher ex-U.S. generics estimates, per our updated model post-1Q)."

For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.

Shares of Teva Pharma closed at $16.25 yesterday.

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