Piper Sandler raised the firm’s price target on Teva (TEVA) to $30 from $23 and keeps an Overweight rating on the shares after meeting with management. The firm discussed the development of anti-TL1A antagonist duvakitug beyond just inflammatory bowel disease in the wake of its recent positive results in ulcerative colitis and Crohn’s disease. It believes further multiple expansion for the shares is justified amid Teva’s growing brand neuropsychiatry sales footprint and advancing pipeline.
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