Teva Pharmaceutical Industries names a new CEO

Teva Pharmaceutical Industries Ltd

Teva Pharmaceutical Industries Limited - Receive News & Ratings Daily

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is trading considerably higher today, now up $3.13 at $18.63 - a 20 percent gain. The health-care sector remains susceptible to regulatory risk, warned one brokerage, which recommended investors pick individual health-care stocks rather than seek broad exposure to the sector. With a return potential of almost 75%, the stock's consensus target price stands at $27.06. Maxim Group reiterated a "hold" rating and issued a $35.00 target price on shares of Teva Pharmaceutical Industries Limited in a report on Thursday, July 13th.

Meanwhile, BTIG's Tim Chiang upgraded the company from Neutral to Buy after the announcement was made. Sanford C. Bernstein cut Teva Pharmaceutical Industries Limited from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $42.00 to $28.00 in a report on Friday, August 4th. Finally, Credit Suisse Group reiterated an "outperform" rating and issued a $39.00 target price on shares of Teva Pharmaceutical Industries Limited in a report on Wednesday, August 9th. SELL rating has been given by 0 analyst (s) and 1 analyst (s) given BUY rating to the stock. But the stock is getting a lift today after Teva announced that Kare Schultz, CEO of privately held Lundbeck, would take the reins.

Showing a price of $15.50, Teva Pharma (NYSE:TEVA) traded 0.19% higher on the day. AZN's distance from 20 day simple moving average is 9.34% and distance from 50-Day simple moving average is 3.15%. Teva Pharma has $86 highest and $14 lowest target. Three months later, the company unveiled a restructuring program aimed at cutting the total cost base by about DKK 3 billion ($480 million) in 2017.

Teva Pharmaceutical Industries Limited (NYSE:TEVA) last posted its quarterly earnings data on Thursday, August 3rd. The institutional investor held 715,483 shares of the transportation company at the end of 2016Q4, valued at $61.03 million, down from 721,988 at the end of the previous reported quarter. The company had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $5.72 billion. Therefore 27% are positive. The stock witnessed -11.43% declines, -48.71% declines and -53.58% declines for the 1-month, 3-month and 6-month period, respectively. Zacks' sales averages are a mean average based on a survey of analysts that cover Teva Pharmaceutical Industries Limited.

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Of Teva's second-quarter revenue of $5.7 billion, $3.1 billion came from generics, with $2.1 billion from its own branded drugs.

Shares in Lundbeck fell more than 12% on the Copenhagen stock exchange following the news, while Teva's went up nearly 13% on the Tel Aviv stock exchange.

Mr. Schultz, 56, joins an executive board at Teva that in recent years has fought over whether the firm should focus on generics drugs or invest in specialty medicines, as competition has increased for its main blockbuster drug. The stock rose 18.26% or $2.83 reaching $18.33. Cantor Fitzgerald initiated Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) rating on Friday, June 16.

Teva Pharmaceutical Industries Limited is a pharmaceutical company. Over the course of his career, he has developed a unique perspective overseeing generic and specialty drug portfolios, while managing complex business operations around the world, according to the company.

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