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

Teva Pharmaceutical Industries (NYSE:TEVA) had its price objective lifted by stock analysts at Piper Sandler from $23.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 38.41% from the company’s current price.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com lowered Teva Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Barclays boosted their price target on Teva Pharmaceutical Industries from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.13.

Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock opened at $21.68 on Friday. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of -25.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.73. The firm has a 50-day moving average of $19.14 and a two-hundred day moving average of $18.16. Teva Pharmaceutical Industries has a 1 year low of $10.83 and a 1 year high of $22.80. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.89 and a quick ratio of 0.61.

Insider Activity at Teva Pharmaceutical Industries

In other news, EVP Christine Fox sold 19,388 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.87, for a total transaction of $327,075.56. Following the sale, the executive vice president now owns 44,104 shares of the company’s stock, valued at $744,034.48. This trade represents a 30.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Roberto Mignone sold 286,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $22.01, for a total transaction of $6,294,860.00. Following the sale, the director now owns 695,000 shares in the company, valued at approximately $15,296,950. This represents a 29.15 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. increased its stake in Teva Pharmaceutical Industries by 555.6% during the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after buying an additional 2,067 shares in the last quarter. Smithfield Trust Co raised its stake in Teva Pharmaceutical Industries by 55.7% in the 3rd quarter. Smithfield Trust Co now owns 2,739 shares of the company’s stock valued at $50,000 after purchasing an additional 980 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Teva Pharmaceutical Industries in the 3rd quarter valued at $50,000. Claro Advisors LLC acquired a new stake in Teva Pharmaceutical Industries during the 3rd quarter worth $52,000. Finally, Venturi Wealth Management LLC acquired a new stake in Teva Pharmaceutical Industries during the 3rd quarter worth $60,000. Institutional investors and hedge funds own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.