Argus analyst Jasper Hellweg upgraded Teva to Buy from Hold with a $20 price target. The company appears to have “steadied its ship” following several years of challenges, launching a range of new drugs and achieving margin growth across all of its three primary business segments, the analyst tells investors in a research note. Argus adds that Teva has recently launched a range of new drugs, including an extended release version of its treatment for tardive dyskinesia, TD, and Huntington’s disease chorea, as well as generic versions of the blockbuster drug Humira, plaque psoriasis and psoriatic arthritis drug Stelara, and GLP-1 treatment for type 2 diabetes, Victoza. The firm contends that the stock is now “attractively priced” at its current levels below $16 per share.
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