Stock Update (NYSE:TEVA): Teva Pharmaceutical Industries Ltd (ADR) Enhances Extensive Women’s Health Portfolio with Launch of Generic Lomedia® 24 Fe Tablets
Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announces the launch of the generic equivalent of Lomedia® 24 Fe (norethindrone acetate and ethinyl estradiol tablets USP, 1 mg/20 mcg and ferrous fumarate tablets, 75 mg) as part of the extensive line of Women’s Health products. The product will be launched under the name Junel® Fe 24 (norethindrone acetate and ethinyl estradiol tablets USP and ferrous fumarate tablets) and is now available in the United States. Teva recognizes that women’s needs change over time and the portfolio of Women’s Health products is positioned to support women through many stages of life. With the addition of Junel® Fe 24, Teva can offer women a comprehensive line of nearly 30 generic contraceptive products. Lomedia® 24 Fe marketed by Amneal had annual sales of approximately $32 million in the United States, according to IMS data as of December 2014. (Original Source)
Shares of Teva Pharmaceutical closed yesterday at $60.84. 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 $62.03 and its 200-day moving average is $58.66.
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 represents a potential upside of 20.0% from where the stock is currently trading. 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 33.6% respectively. Gilbert has a success rate of 83.3% and is ranked #173 out of 3610 analysts, while Felt has a success rate of 65.6% and is ranked #32.
Overall, 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 20.0% 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.