Bernstein Says Generic Copaxone Win Could Help Momenta Break through $20 Level - Teva Pharmaceutical Indus (NYSE:TEVA)

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Momenta Pharmaceuticals (NASDAQ: MNTA) shares spiked sharply Friday following news of a legal ruling invalidating Teva Pharmaceutical's (NYSE: TEVA) patents on Copaxone in 2015 and partly invalidating its 2014 patents. Bernstein analyst Ronny Gal sees a 75 percent chance of the court decision being favorable for Momenta. The ruling could open the door to Momenta introducing a generic Copaxone within the next few months, according to Gal. If Momenta is able to introduce the first generic Copaxone by May 2014, Gal believes shares could be valued at $30. This is nearly twice the $15.35 level shares were trading at prior to Friday's spike.Gal believes a later release by Q4 2015 could spell upside of 30 percent from current levels to $23 per share.Gal rates Momenta at Outperform with a $20 price target.

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