Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announced the launch of the generic equivalent to INTUNIV® (guanfacine) 1 mg, 2 mg, 3 mg, and 4 mg, in the United States. Guanfacine extended-release tablets are a nonstimulant medication for the treatment of attention deficit hyperactivity disorder (ADHD) that can be used alone, or as an add-on to stimulant medications.
ADHD is the most common neurobehavioral disorder diagnosed in children in the United States. ADHD affects 1 in 10 U.S. children and half of these children are diagnosed by the age of six.
“Guanfacine extended-release tablets join Teva’s current generic line of seven ADHD products,” commented Brendan O’Grady, President and CEO, North America Generic Medicines. “We recognize the need to make affordable generic treatment options available to patients with ADHD.”
INTUNIV® (guanfacine) 1 mg, 2 mg, 3 mg, and 4 mg, had total market sales of approximately $804 million in the United States, according to IMS data as of March 2015. (Original Source)
Shares of Teva closed yesterday at $60.31 . TEVA has a 1-year high of $68.75 and a 1-year low of $47.36. The stock’s 50-day moving average is $61.68 and its 200-day moving average is $58.74.
On the ratings front, Teva has been the subject of a number of recent research reports. In a report issued on May 19, Deutsche Bank analyst Gregg Gilbert maintained a Buy rating on TEVA, with a price target of $73, which implies an upside of 21.0% from current levels. Separately, on April 30, Oppenheimer’s Akiva Felt maintained a Buy rating on the stock and has a price target of $77.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gregg Gilbert and Akiva Felt have a total average return of 22.0% and 35.2% respectively. Gilbert has a success rate of 81.3% and is ranked #181 out of 3610 analysts, while Felt has a success rate of 64.6% and is ranked #31.
In total, one research analyst has assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $73.00 which is 21.0% above where the stock closed yesterday.
Teva Pharmaceutical Industries Ltd develops, produces and markets generic, branded & OTC medicines. Some of its products are Copaxone, Azilect & Provigil.