|Bid||8.24 x 2200|
|Ask||8.24 x 800|
|Day's Range||8.19 - 8.64|
|52 Week Range||8.19 - 25.96|
|Beta (3Y Monthly)||2.49|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||16.48|
Teva Pharmaceutical Industries Ltd. (TEVA) closed at $8.62 in the latest trading session, marking a -1.03% move from the prior day.
Ongoing litigation surrounding the opioid epidemic will be a yearslong overhang for several pharmaceutical companies like Teva Pharmaceutical, Mylan and Endo, an analyst said Thursday.
Wednesday's 0.2% setback for the S&P 500 still wasn't enough to push it past the point of no return. But, anything remains possible at this point … good or bad. More than anything, traders are losing interest.Source: Allan Ajifo via Wikimedia (Modified)Teva Pharmaceutical (NYSE:TEVA) was a proverbial problem child, off more than 4% after a judge rejected its initial settlement offer to end an opioid liability case against the company. Chesapeake Energy (NYSE:CHK) was the bigger overall drag, falling more than 7%, mostly driven by industry pricing weakness. General Electric (NYSE:GE) helped keep the weakness to a minimum, up 1.5% as investors increasingly buy into the turnaround story. * 7 High-Quality Cheap Stocks to Buy With $10 None are great picks headed into Thursday's trading though. Rather, it's the stock charts of Philip Morris International (NYSE:PM), Twitter (NYSE:TWTR) and H & R Block (NYSE:HRB) that merit the closer looks.InvestorPlace - Stock Market News, Stock Advice & Trading Tips H & R Block (HRB)Shares of H & R Block are, in simplest terms, at a crossroads.The fact that HRB was able to recover and rebound after being on the verge of a pretty significant selloff (as recently as March) confirmed there's a rather significant floor around $23.65, plotted in blue on both stock charts. However, this week's action also confirms there's a major ceiling that stands in the way of higher highs. Although the stock could still fall on either side of the fence, with two years' worth of consolidation ready to be unleashed, the possible breakout thrust is worth a closer look. Click to Enlarge * The ceiling in question is, of course, the $29.20 level marked in red on both stock charts. That's around where H & R Block stock peaked several times since late 2017. * Although none of the other attempts to hurdle $29.20 have been effective, this one differs in that the last couple days have made big gains on big volume. * Perhaps the most bullish argument here isn't what is, but what isn't. The weekly chart's RSI indicator hasn't crept into overbought territory yet, leaving room for more upside before the profit-takers push back. Philip Morris (PM)With nothing more than a passing glance at Philip Morris, it looks as if it has averted trouble. And, perhaps it has. The weakness seen late last month has been quelled, with a technical support level taking shape around $76.70.This may only be a short pause before the selloff resumes again, however. One more misstep could push PM shares over that cliff's edge. * 10 Smart Dividend Stocks for the Rest of the Year Click to Enlarge * The way the highs and lows over the course of the past week and a half have made a pretty well-defined box shape is telling in itself. It could be considered a bearish continuation pattern that lets the sellers regroup. * The floor at $76.70 is more meaningful than the past few days would suggest. That same level was a key floor a trio of times in 2018, making it a more important support area now. * Still, until that floor actually fails to keep Philip Morris stock propped up, there's still a chance at a rebound. Twitter (TWTR)Several times earlier this year Twitter was featured as a budding bullish candidate. Although choppy, the fact that the buyers were repeatedly making an attempt to reclaim ground lost in the middle of last year was encouraging. The breakout move finally took shape in April, though in the worst possible way. That is, a huge gap was left behind; traders generally don't like to leave gaps unfilled.Sure enough, that gap was filled in the meantime, with last month's weakness. The spot with which the bounceback has taken shape, however, suggests a whole new trading range has been established that will serve as a Launchpad for the move to the next higher level. Click to Enlarge * All it took was a kiss of the gray 100-day moving average line in early June (highlighted) to close the gap left with April's surge. * This week so far, the purple 50-day moving average line and the blue 20-day moving average line have acted as a technical floor, holding TWTR above a key technical ceiling near $37.20, plotted in red. * The next level to watch is $42.14, where the upper boundary of July's bearish gap is found. * It's more readily evident on the weekly chart, but with the recent move higher, the old trading range between $35.80 and $26.25 has been left in the rearview mirror.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post 3 Big Stock Charts for Thursday: H & R Block, Twitter and Philip Morris appeared first on InvestorPlace.
Teva Pharmaceutical skidded to a nearly two-decade low Wednesday amid confusion over its $85 million payment to Oklahoma to settle an ongoing opioid abuse case. J&J remains a defendant.
Teva shares briefly reached fresh lows after an Oklahoma judge declined the company's settlement offer and requested more information.
Short sellers are taking a growing interest in the specialty pharmaceutical sector as litigation concerns swirl around Teva and Allergan.
Investment banker Barclays announced it has initiated coverage of 20 U.S. specialty pharmaceuticals stocks.But which 20 stocks within this sector are we talking about today? They include generic drugs companies Mylan (MYL), which Barclays rates Overweight (i.e. 'buy') and Teva Pharmaceutical Industries (TEVA), which the analyst rates Underweight (i.e. 'sell'), as well as: * Amneal Pharmaceuticals (AMRX) * Endo International (ENDP) * Reddy's Laboratories (RDY) * and Mallinckrodt plc (MNK)Each of which is rated Equal weight (i.e. 'hold').Within the animal health sector (i.e. veterinary medicine), Barclays initiates coverage with Overweight ratings on Zoetis (ZTS) and Kindred Biosciences (KIN), but gives Phibro Animal Health Corporation (PAHC) an Underweight rating.Among developmental and commercial stage companies "with unique products & segments," Barclays has two 'sells' -- Allergan (AGN) and Evolus (EOLS) -- and one hold: Ligand Pharmaceuticals (LGND). As for Barclays' 'buy' ratings, it rates the following companies Overweight ratings: * AMAG Pharmaceuticals (AMAG) * Jazz Pharmaceuticals (JAZZ) * Osmotica Pharmaceuticals (OSMT) * Coherus BioSciences (CHRS) * Pacira BioSciences (PCRX) * Revance Therapeutics (RVNC) * Bausch Health Companies (BHC) * and Foamix Pharmaceuticals (FOMX)Today, we really only have time to glance at just one of these stocks: Rehovot, Israel-based Foamix.Foamix is a late clinical-stage specialty pharmaceutical company focusing on foam-based medications for the treatment of acne and rosacea. Foamix stands out in this report primarily by virtue of the extremely high hopes Barclays' has for it, namely, valued at just $2.53 per share today, Barclays believes that within a year, Foamix stock will be selling for $10 -- a four-bagger in just one year.Why is Barclays so optimistic? As the analyst explains, Foamix is on the cusp of becoming a "commercial stage company" -- i.e. a company with actual revenue from sales, a rarity in small drugs stocks -- thanks to its topical Minocycline product for acne and rosacea. Designated "FMX-101" for acne treatment and "FMX-103" for rosacea, both these foam-based products "combine [the] proven efficacy of minocycline with a more tolerable side effect profile" says Barclays. From $3 million in annual revenue today, the banker predicts Foamix could do as much as $272 million in annual sales by 2025E.Considering that the entire company has a market cap of barely half that number -- $138 million -- today, Foamix at least seems to have earned its place on Barclays' list.Foamix has a few upcoming catalysts that could send its shares surging higher: * There is a scheduled PDUFA for FMX-101 on October 20, 2019. This is a key event for Foamix, as FMX-101 is its lead product in acne. * Foamix anticipates filing an NDA in mid-2019 for FMX-103 in moderate-to-severe papulopustular rosacea. * FCD-105 Phase II study initiation in mid-2019: FCD-105 is another pipeline product being evaluated in patients with acne and is a foam-based combination of minocycline and adapalene."We value Foamix on a DCF basis, assuming an 11.5% discount rate and a 3% terminal growth. We include risk adjusted pipeline values for both FMX-101 (90% probability of success) and FMX-103 (70% probability of success). We also assume base uptake of FMX-101, reaching 2025 risk-adj. sales of ~$200mm. This scenario yields a value of ~$10/share and serves as the basis for our price target," Barclays noted.Read more: Foamix (FOMX): A Beaten-Down Biotech Stock That Looks Like a Bargain Now More recent articles from Smarter Analyst: * Village Farms (VFF) Has a Lot Going for It * Hexo Has Difficult Days Ahead, Analyst Says * Square (SQ) Growth Slowing, But Evercore Remains Bullish on the Stock * This Analyst Sticks with His Buy Rating on Aphria (APHA) Stock, But Trims Price Target
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the first quarter. One of these stocks was Teva Pharmaceutical Industries Limited (NYSE:TEVA). Teva Pharmaceutical Industries Limited (NYSE:TEVA) […]
Conventional wisdom says that insiders and 10-percent owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit. MGM Resorts International (NYSE: MGM) saw a director making indirect share purchases this past week.
The case, which is premised on a unproven legal theory, could impact the course of future opioid litigation.
A federal judge in Ohio is pushing for a settlement that could sweep in more than a thousand separate opioid lawsuits.
Lilly's (LLY) CGRP antibody, Emgality, becomes the first and only medicine approved to treat episodic cluster headache in adults.
Eli Lilly and Co's migraine treatment Emgality on Tuesday became the first drug to gain U.S. approval for decreasing the frequency of episodic cluster headache attacks, the Food and Drug Administration said https://reut.rs/2QMtzVE. Emgality belongs to a new class of drugs called CGRP inhibitors that are used to prevent migraines or reduce their frequency. It competes with Ajovy from Teva Pharmaceutical Industries Ltd and Amgen Inc's Aimovig, all approved within months of each other last year, creating a fierce battle for market share.
Teva Pharmaceutical and Mylan could fork over $2.4 billion in damages, an analyst suggested after pharma company Heritage Pharmaceuticals admitted to fixing the prices of generic drugs.
The generic-drugs maker’s shares have been under pressure this year and are now trading where they were in 2000. Teva Chairman Sol Barer, a former Celgene CEO, just made his first open-market purchase as in insider.
Shares jumped during Monday's session after Oppenheimer analysts upgraded the stock to Outperform with a $12 price target.
Teva Pharmaceuticals stock jumped after Oppenheimer offered a rare positive spin on the generic drugmaker, which has been hit by high-profile lawsuits.
Teva stock gained more than 5% on Monday after Oppenheimer analyst Esther Rajavelu upgraded the company to outperform from perform - even as she lowered her price target for the shares to $12 from $17. Shares of Teva plunged last week after UBS downgraded the Israeli pharmaceutical company's stock to neutral from buy and lowered its price target $12 from $22 amid the company's exposure to opioid-related litigation. Teva recently said it had reached an agreement with Oklahoma that includes an $85 million payment to the state - just days before a trial slated for Tuesday over opioid claims made against the drugmaker by the state's attorney general.
Biogen (BIIB) announces new interim results from phase III EVOLVE-MS-1 study, which showed that the diroximel fumarate was generally well tolerated in people with relapsing MS.
It's not possible to invest over long periods without making some bad investments. But you have a problem if you face...
Analysts at Bank of America Merrill Lynch downgraded shares of Teva Pharmaceutical Industries Ltd. to underperform from buy on Thursday, citing the generic drug maker's current legal exposure and a pipeline that "is interesting but [has] insufficient upside optionality." The firm also lowered its price target on the stock to $9 from $19. Analysts led by Jason Gerberry said they were not confident in the company's generic pipeline. "Key generics for Nuvaring, g-Restasis and g-Forteo all carry complex bioequivalence requirements and none have been approved, to date," Gerberry wrote in a note to clients on Thursday. He also expressed concern about the ongoing lawsuits against the company. Teva is facing a mammoth opioid-related suit in an Ohio federal court, along with a lawsuit filed in early May alleging Teva and several other drugmakers conspired to artificially inflate prices and reduce competition. Over the weekend, the company announced it had agreed to pay $85 million to the state of Oklahoma to settle claims over its alleged role in the opioid crisis. The complex nature of the lawsuits makes it difficult, if not impossible, to quantify potential damages or costs related to settlements, Gerberry said in his note. "Teva likely will need numerous litigation wins to overcome investor concerns," he added. Shares of Teva have fallen 36.7% so far this year, while the S&P 500 has gained 11.5%.
Bank of America Merrill Lynch analyst Jason Gerberry downgraded the firm to Underperform from Buy, citing risks around the ongoing opioid litigation. He also cut the target price to $9 from $19.