Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) noticed its share value leap 12.8% yesterday, amid excessive buying and selling quantity, to a five-year excessive. The share value of $15.74 gave a market cap of $17.8 billion, after the corporate reported first quarter outcomes of $3.81 billion income, a GAAP web lack of $139 million and a non-GAAP web revenue of $548 million.

Investors preferred the truth that Teva reaffirmed its annual outlook and beat the income steering for the quarter as a consequence of higher than anticipated gross sales within the US generics market. The share surged regardless that earnings per share was decrease than analysts’ expectations.

But what significantly enthused the market was the optimistic Phase III scientific trial outcomes of Olanzapine LAI, which Teva is creating with Medincell, and which is injected as soon as a month for the therapy of schizophrenia. Teva CEO Richard Francis mentioned that the trial had met its finish factors and there was an excellent chance that it will enable long-term efficient therapy for schizophrenia, with out PDSS side-effects.

If the drug reaches the promote it might considerably contribute to Teva’s outcomes. Evercore ISI analyst Umer Raffat believes that gross sales might quantity to greater than $1 billion yearly, which might improve Teva’s EBITDA. He says that Teva’s story right this moment is considerably totally different than a number of years in the past.

UBS believes that annual gross sales of Olanzapine might attain $875 million by 2030. The Swiss financial institution’s analysts’ give a “Buy” advice for Teva’s share and a value goal of $19, a 20.7% upside on the corporate’s present share value. UBS sees Teva’s 2024 income reaching $16.1 billion with EBITDA of $4.9 billion, larger than the analysts’ consensus and within the center vary of Teva’s personal outlook.

Jefferies provides Teva a goal value of $17, an 8% upside for the Israeli pharmaceutical firm, and a “Buy” advice. Jefferies’ analysts suppose that Teva’s share is undervalued and its present value attributes little credit score to its product pipeline, in all probability as a consequence of Teva’s historical past lately. “We think the market has not fully digested Teva’s change in DNA,” they write. “We believe that today’s announcement (about the trial results) and further announcements in the future about the product pipeline can reflect a change.”

Leader Capital Markets yesterday raised the worth goal for Teva from $16 to $18 (14.4% larger than the present value) with an “Outperform” advice. According to Leader analysis division director Sabina Levy, Teva’s income within the first quarter was larger than anticipated, thanks amongst different issues to the sturdy efficiency of the generics enterprise and progress of about 8% within the US, and as well as, Teva offered larger than anticipated income from the sale of branded drug Austedo.

Published by Globes, Israel enterprise information – en.globes.co.il – on May 9, 2024.

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