Maxim Group Defends Teva Pharmaceutical Industries Ltd (ADR) Despite Patent Invalidation for Copaxone
Maxim Group analyst Jason Kolbert weighed in today with some commentary on Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) after a U.S. appeals court invalidated a patent for the company’s top-selling drug, Copaxone, used to treat multiple sclerosis. Kolbert reiterated a Buy rating on the stock with a price target of $68.00. Shares of TEVA closed yesterday at $60.33, up $0.18, or 0.30%.
“We believe Teva will grow in a post generic Copaxone world: Recent progress is visible on multiple fronts” Further, “We conclude that in a post-generic Copaxone world, Teva is now well positioned to grow the company with organic growth (brand, specialty, generics, and NTEs) supported by acquisition driven growth.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 2.3% and a 42.1% success rate. Kolbert has a 13.4% average return when recommending TEVA, and is ranked #1331 out of 3635 analysts.
Out of the 19 analysts polled by TipRanks, 12 rate Teva Pharmaceutical Industries stock a Buy, while 7 rate the stock a Hold. With a return potential of 13.7%, the stock’s consensus target price stands at $68.57.