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Teva Pharmaceutical Industries Ltd (ADR) (NASDAQ:TEVA) shares are trading lower $2.00 (8 percent) at $21.75 in Friday's session. That comes on top of Thursday's loss of $7.50, or 24 percent.
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A slew of four downgrades that has Wall Street analysts chasing the price lower may have helped form at least a temporary bottom in the stock. After a lower open, it managed an 11-cent bounce to $22.75 before continuing its move lower.
The ensuing decline took Teva all the way to $20.41, but has rebounded back to the $22.00 area. That low coincides with a trio of lows from late March 2003 at the $20.35 area.