Teva Pharmaceutical Industries (NYSE: TEVA) has seen its price target increased from $29.00 to $32.00 by Bank of America, according to a research report released on Tuesday. The investment firm currently maintains a “buy” rating on the stock, reflecting confidence in the company’s performance.
Several other financial institutions have also adjusted their forecasts for Teva. The Goldman Sachs Group raised its price target from $28.00 to $31.00 while assigning a “buy” rating. Meanwhile, JPMorgan Chase & Co. elevated its target from $26.00 to $28.00 with an “overweight” rating. On September 24, UBS Group increased its target from $23.00 to $26.00, also designating the stock as a “buy.”
In addition, Barclays has begun coverage of Teva with an “overweight” rating and a target price of $35.00. However, not all analysts are optimistic; Weiss Ratings reiterated a “sell (d-)” rating on the stock on October 8. Overall, the consensus rating among analysts is “buy,” with an average price target of $30.25 based on data from MarketBeat.
Recent Insider Transactions and Hedge Fund Activity
Teva’s stock recently experienced a modest increase of 1.2%. In related news, Vice President Richard Daniell sold 115,468 shares on December 9 at an average price of $28.68, totaling approximately $3.3 million. After this transaction, Daniell’s remaining ownership in the company fell to 48,384 shares, a reduction of 70.47%.
Additionally, Director Roberto Mignone sold 200,000 shares on November 6 for an average of $24.11, amounting to $4.82 million. Following this sale, Mignone retained 495,000 shares, representing a 28.78% decrease in ownership. In total, insiders have sold 532,360 shares valued at approximately $14.36 million over the past ninety days, with insiders currently holding 0.49% of the stock.
Recent hedge fund activity has also influenced Teva’s stock landscape. Advisors Asset Management Inc. acquired a new stake valued at around $41,000 in the second quarter. Other firms, including New Age Alpha Advisors LLC and Cromwell Holdings LLC, have also made investments, increasing their stakes significantly. Currently, institutional investors, including hedge funds, own approximately 54.05% of Teva’s stock.
Teva Pharmaceutical Industries develops, manufactures, and markets a wide range of generic and specialty medicines, as well as biopharmaceutical products across North America, Europe, Israel, and beyond. The company’s portfolio includes various dosage forms such as tablets, injectables, and creams, positioning it as a significant player in the pharmaceutical industry.
As analysts continue to evaluate Teva’s performance and market position, the shifts in price targets and insider trading may provide key insights into the company’s future trajectory.
