Teva Pharmaceutical Indus Stock (NYSE: TEVA)

Teva Pharmaceutical Indus (NYSE:TEVA) Stock, Quote.Headers.trade-ideas

Teva Pharmaceutical Indus

Teva Pharmaceutical Industries, based in Israel, is the leading generic drug manufacturer in the world. Teva derives half of its sales from North America and makes up a high-single-digit percentage of the total number of generic prescriptions in the US. It also has a significant presence in Europe, Japan, Russia, and Israel. Besides generics, Teva has a portfolio of innovative medicines and biosimilars in three main therapeutic areas: central nervous system with Copaxone, Ajovy, and Austedo; respiratory with Qvar and ProAir; and oncology with Truxima, Herzuma, and Bendeka/Treanda. Teva also sells active pharmaceutical ingredients, offers contract manufacturing services, and owns Anda, a US-based generic and specialty drug distributor.

Konskie,,Poland,-,January,05,,2019:,Unitedhealth,Group,Logo,Displayed

Biotech

Equities

Large Cap

News

Health Care

Media

General

ABBV

ALVO

AMGN

SDZNY

SDZXF

TEVA

UnitedHealth will remove AbbVie&#39;s Humira from its preferred drug lists by 2025, opting for lower-cost biosimilars like Amgen&#39;s Amjevita, in a move aimed at cutting prescription costs.

UnitedHealth Follows Competitors, Replaces Humira with Lower-Cost Biosimilars

Viersen,,Germany,-,May,9.,2020:,Close,Up,Of,Mobile

Legal

Baltimore secures an $80 million settlement with Teva Pharmaceuticals in its opioid crisis litigation. Funds will be allocated to education, recovery centers, and outreach initiatives.

Teva Announces $80M Settlement To Baltimore: City Continues Opioid Litigation Against Other Companies

Genetic,Research,And,Biotech,Science,Concept.,Human,Biology,And,Pharmaceutical

Analyst Color

Downgrades

Price Target

Reiteration

Analyst Ratings

Trading Ideas

AMPH

AMRX

PRGO

VTRS

JP Morgan assesses the specialty pharma sector, highlighting robust fundamentals and new product excitement. Key focus on Teva, Organon, and Viatris.

JP Morgan Shows Most Interest In Teva, Organon As Specialty Pharma Sector Exhibits Signs Of Stability

Teva Pharmaceutical Industries Limited American Depositary Shares

Teva Pharmaceutical Industries Ltd

TEVA PHARMA IND ADR REP 1 ORD

TEVA PHARM INDUS LTD ORD by Teva Pharmaceutical Industries Ltd.

TEVANO SYS HLDGS INC by Tevano Systems Holdings Inc.

Tevano Systems Holdings Inc

Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today presented data informing clinical strategies for switching patients to UZEDY&#xAE;, an extended-release injectable suspension of risperidone for subcutaneous use every one or two months for the treatment of schizophrenia in adults, from a once-monthly subcutaneous injection of Perseris&#xAE; (RBP-7000). The results were presented during the 37th Annual European College of Neuropsychopharmacology (ECNP) Congress taking place between September 21-24, 2024, in Milan, Italy.
Schizophrenia is a complex medical condition that may require switching from an oral option or between different long-acting injectable options during the patient treatment journey. These data further clinical understanding of optimal treatment strategies when switching to UZEDY from Perseris&#xAE;.
"Schizophrenia patients and healthcare providers rely on evidence-based studies that can help inform their treatment decisions. That is why Teva is dedicated to building on our commitment to neuroscience and schizophrenia and helps provide these clinical insights on UZEDY switching strategies, along with its role in long-acting treatment options," said Eric Hughes, MD, PhD, Executive Vice President of Global R&amp;D and Chief Medical Officer at Teva. "Up to 80% of schizophrenia patients experience multiple relapses in the first five years, making switching treatments a common experience in the search for optimal treatment. With UZEDY, Teva is building a robust portfolio of research that can help determine if and when it may be the right long-acting option."
In a population pharmacokinetic (PopPK) analysis, simulations were conducted to predict pharmacokinetic (PK) exposures when switching to UZEDY 4-6 weeks after the last injection of once-monthly RBP-7000. The simulation models indicated that switching to UZEDY 4 weeks after the last dose of once-monthly RBP-7000 resulted in comparable PK properties of UZEDY at both the initial exposure and steady state. Comparable doses included UZEDY at 100 mg (once-monthly dosing) or 200 mg (once-every-two-months dosing) to 120 mg of once-monthly RBP-7000.1
Any switching strategy should be determined by clinicians on an individual patient basis, considering factors such as patient preference, scheduling convenience and potential tolerability issues or risk of symptom breakthrough.
"Every person living with schizophrenia has unique treatment needs and preferences that may also evolve over time. For my patients, I encourage discussion around key factors like treatment adherence, dosing frequency, symptom control, and rate of relapse which inform what treatment option may be the most appropriate," said Christoph Correll, MD, Professor of Psychiatry at the Zucker School of Medicine, Hempstead, NY. "For healthcare providers, there is also a significant knowledge gap in the available clinical data on switching patients between the various LAI treatment options, which have differing pharmacokinetic properties and dosing considerations. Insights from studies like these are crucial for researchers and clinicians like myself, as they help us become more informed and better serve our patients."
Additional key data being presented at ECNP 2024 included new quantitative results from the ADVANCE (Attitudes Driving Regional Differences in LAI Antipsychotic Utilization for Schizophrenia Among HCPs, Patients and Caregivers) surveys, including:
<ul>
<li>Among 447 people living with schizophrenia and 375 caregivers, most common patient-reported reasons for accepting an LAI (n=331) were improvement of symptoms/condition with LAIs (68%, n=224), recommendation by their HCP (65%, n=214) and ease of using LAIs versus oral antipsychotics (57%, n=189).1</li>
<li>Patients also reported using LAIs due to fewer side effects versus oral antipsychotics (38%, n=127) and to help prevent hospitalization (20%, n=67).1</li>
<li>Caregivers (n=229) reported that patients accepted LAIs based on ease of use versus oral antipsychotics (78%, n=178), to help prevent hospitalization (62%, n=143) and perception that LAIs would work better for improving condition/symptoms (62%, n=143).1</li>
<li>Among a sample of 791 HCPs from 8 different countries, most HCPs reported that the primary reason for recommending an LAI to a patient was nonadherence to oral medication, with the exception of South Korea where the most common reason was that an LAI would be more efficacious than oral.1</li>
<li>The primary reasons cited for not recommending an LAI were patient clinical characteristics and the lack of an available LAI formulation of the patient's current oral treatment, except for China and South Korea, where the primary reasons were LAI cost to patient and LAI product not marketed, respectively.</li>
</ul>

Reported Saturday, Teva Unveils Data on UZEDY Injection Switching Strategy for Schizophrenia Treatment at ECNP

Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced new positive efficacy, safety and tolerability results for Phase 3 Subcutaneous Olanzapine Extended-Release Injection Study (SOLARIS) trial evaluating TEV-‘749 in adult patients diagnosed with schizophrenia. In the study, TEV-‘749 met the primary endpoint, demonstrating significant improvements in the Positive and Negative Syndrome Scale (PANSS)&nbsp;total score from baseline to week 8, as well as key secondary endpoints with improvements in both the Clinical Global Impression-Severity (CGI-S) scale and the Personal and Social Performance (PSP) scale score, compared to placebo at week 8. Additionally, SOLARIS (Period 1) and Phase 1 safety results demonstrated no incidence of post-injection delirium/sedation syndrome (PDSS) in participants taking TEV-‘749 to date.1 The overall safety profile was consistent with other oral acting olanzapine options. These data were presented during the 37th Annual European College of Neuropsychopharmacology (ECNP) Congress taking place between September 21-24, 2024, in Milan, Italy.
Schizophrenia is a complex medical condition that may require switching from oral options or between different long-acting injectable (LAI) options during the patient treatment journey. These data demonstrate the potential role of TEV-‘749 as an LAI treatment option for schizophrenia patients taking daily oral olanzapine or other antipsychotic medications. Currently, the only long-acting olanzapine treatment option for schizophrenia carries a risk for PDSS, the sudden and unexpected onset of delirium or sedation when medication is released too quickly into the blood after receiving an intramuscular injection of long-acting olanzapine.1
"Teva is dedicated to building on its commitment to neuroscience by developing new long-acting injectable treatment options like TEV-‘749 that may help address unmet needs in schizophrenia for patients and healthcare providers," said Eric Hughes, MD, PhD, Executive Vice President of Global R&amp;D and Chief Medical Officer at Teva. "PDSS is a major barrier to the utilization of intramuscular olanzapine LAIs that exists today, and our SOLARIS findings fuel the continued development of TEV-‘749."
With nearly 30 years of clinical and real-world use, olanzapine is one of the most commonly prescribed 2nd generation oral antipsychotics for schizophrenia around the world. Its efficacy and safety profiles are well established.
"Developing a long-acting olanzapine formulation that poses potentially no risk of PDSS is crucial in preventing these dangerous episodes that otherwise limit the use of olanzapine to daily oral options," said Christoph Correll, MD, Professor of Psychiatry at the Zucker School of Medicine, Hempstead, NY. "With no PDSS observed in the SOLARIS trial to date, these data add to the growing body of evidence that TEV-‘749 may one day serve as an important treatment option for patients and healthcare providers who rely on olanzapine and also have needs or preferences that require a long-acting option."
Period 1 of the SOLARIS study is an 8-week, randomized, double-blind, placebo-controlled trial in patients aged 18-64 years diagnosed with schizophrenia, followed by an open-label safety period of up to 48 weeks (Period 2). Efficacy results from Period 1 of the SOLARIS study show that by week 8:
<ul>
<li>TEV-‘749 met its primary endpoint across all three dosing groups, with statistically significant mean differences in the change in PANSS total scores from baseline to week 8 of -9.71 points, -11.25 points, and -9.69 points versus placebo for the high (531 mg, corresponding to 20 mg/day of oral olanzapine), medium (425 mg, corresponding to 15 mg/day of oral olanzapine), and low (318 mg, corresponding to 10 mg/day of oral olanzapine) dose groups, respectively (all P&lt;0.0001).1</li>
<li>TEV-‘749 treatment significantly improved CGI-S scale scores across all three dosing groups, with reductions of -0.47 points (high), -0.61 points (medium), and -0.53 points (low) versus placebo from baseline to week 8 (all P&lt;0.0001).1</li>
<li>TEV-‘749 treatment significantly improved PSP scale scores across all three dosing groups, with increases of 4.93 points (high), 3.15 points (medium), and 4.63 points (low) versus placebo from baseline to week 8 (all P&lt;0.02).1 &nbsp;</li>
</ul>
The systemic safety profile of TEV-‘749 was consistent with other approved formulations of olanzapine, with no new safety signals identified. Additional safety and tolerability results from Period 1 (917 active injections) through week 8 of the SOLARIS study show that:
<ul>
<li>There were no reported cases of PDSS.1</li>
<li>Treatment-emergent adverse events that occurred more often in patients receiving TEV-‘749 versus placebo included weight increase (35% [173/500] versus 8% [13/167]), injection site induration (13% [64/500] versus 2% [4/167]), injection site pain (10% [50/500] versus 4% [7/167]) and injection site erythema (10% [48/500] versus 1% [1/167]).1</li>
<li>Serious adverse events and discontinuations due to adverse events were reported in 1% (7/500) and 3% (16/500) of patients treated with TEV-‘749, respectively, and in 2% (3/167) and 3% (5/167) of patients treated with placebo, respectively.1 &nbsp;</li>
</ul>
Also presented at ECNP 2024, results from the Phase 1 study of TEV-'749 show similar safety and tolerability results, including no reports of PDSS events. Additionally, a presented pre-clinical study suggests that the subcutaneous route of administration and formulation characteristics of TEV-'749 appear to greatly reduce the hypothesized risk of PDSS occurrence for patients receiving the treatment.
The long-term safety of TEV-‘749 and incidence of PDSS are also being evaluated in the SOLARIS open-label study (Period 2), with safety data topline readout expected in the first half of 2025.
TEV-‘749 utilizes SteadyTeq&#x2122;, a copolymer technology proprietary to Medincell that provides a controlled steady release of olanzapine.
TEV-‘749 is an investigational once-monthly subcutaneous LAI of the 2nd generation antipsychotic olanzapine and is not approved by any regulatory authority for any use, and its safety and efficacy are not established.

Reported Saturday, Teva's New Schizophrenia Treatment TEV-749 Meets Key Endpoints in Phase 3 Study

Reported Earlier, Teva Pharmaceutical Disclosed That A New Analysis Revealed That Deutetrabenazine Treatment Of Patients With Tardive Dyskinesia (TD) Was Associated With Long Term Improvement Of TD Symptoms

Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) has outperformed the market over the past 5 years by 5.93% on an annualized basis producing an average annual return of 19.42%. Currently, Teva Pharmaceutical Indus has a market capitalization of $20.48 billion. 
Buying $1000 In TEVA: If an investor had bought $1000 of TEVA stock 5 years ago, it would be worth $2,403.05 today based on a price of $18.08 for TEVA at the time of writing.
<h3>Teva Pharmaceutical Indus's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726507872_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $2,400 Today

Macro Economic Events

Politics

Economics

DARE

FEMY

PGNY

North Dakota Judge Overturns State's Abortion Ban, Making Abortion Legal In The State

UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) reportedly announced on Tuesday that it will remove AbbVie Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) blockbuster drug Humira from some of its preferred reimbursement lists starting January 1, 2025. The company will recommend lower-cost biosimilar versions instead.
This move is part of a larger trend in the U.S. pharmaceutical market, as health plans seek to cut costs by promoting alternatives to high-priced drugs.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39695378/ftc-investigation-uncovers-anti-competitive-practices-by-handful-of-pharmacy-benefit-managers-includ" rel="noreferrer noopener">FTC Investigation Uncovers Anti-Competitive Practices By Handful Of Pharmacy Benefit Managers, Including CVS Health, UnitedHealth</a>.
Reuters highlights that Amgen Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Amjevita, managed by its pharmacy benefits unit, Optum Rx, is among the biosimilars covered under UnitedHealth&#8217;s lists for commercial health plans.
With this decision, Optum becomes the last of the three largest U.S. pharmacy benefit managers (PBMs) to exclude Humira.
Cigna Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) announced last month that it would remove Humira from some of its lists in 2025, following a similar decision by CVS Health Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) Caremark unit in April.
CVS&#8217;s action led to a swift shift, with more patients transitioning to Sandoz Group AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDZNY#OTC">SDZNY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDZXF#OTC">SDZXF</a>) biosimilar version of Humira in just three weeks than in the previous 15 months combined.
Cigna plans to cover biosimilars like Boehringer Ingelheim&#8217;s Cyltezo, Simlandi from Teva Pharmaceutical Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), and Alvotech&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) products, including an unbranded version of Sandoz&#8217;s Hyrimoz, as replacements for Humira.
UnitedHealth noted that patients would still have access to Humira until the FDA designates the preferred biosimilars as interchangeable with the original drug, per the report. The FDA is expected to make this designation in 2025.
Despite the growing competition, AbbVie has managed to retain a dominant share of the U.S. Humira market throughout 2023. This has been achieved through favorable negotiations with PBMs, even as biosimilar alternatives from companies like Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) entered the market.
As per a Reuters report, Humira has still managed to retain over 80% of its patients even after facing lower-priced rivals in the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/04/38468317/arthritis-patients-cignas-evernorth-to-offer-humira-biosimilar-at-no-out-of-pocket-cost" rel="noreferrer noopener">U.S. over the past year</a>.
Following their launch last year, pharmacy benefit managers largely influenced patient access, with minimal incentive for doctors to switch to <a target="_blank" href="https://www.benzinga.com/general/biotech/24/06/39228916/abbvies-arthritis-drug-humira-retains-market-dominance-despite-biosimilar-competition-challenges-" rel="noreferrer noopener">these alternatives</a>.
In May, Cantor Fitzgerald said AbbVie had positioned itself to absorb Humira biosimilar erosion and achieve modest <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38899905/abbvie-is-successfully-positioned-to-absorb-humira-biosimilar-erosion-analyst" rel="noreferrer noopener">operational revenue growth</a>.
Price Action: UNH stock is down 2% at $587.07 at last check Wednesday.
Photo via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40817991/gsk-halts-herpes-simplex-virus-vaccine-development-clears-path-for-other-contenders-like-moderna-" target="_blank" rel="noreferrer noopener">GSK Halts Herpes Simplex Virus Vaccine Development, Clears Path For Other Contenders Like Moderna, BioNTech</a>.</li>
</ul>

The City of Baltimore, led by Mayor Brandon M. Scott, reached an $80 million settlement with Teva Pharmaceuticals Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) to resolve claims against the company for its role in the city&#8217;s opioid epidemic.
Under the agreement, Teva will pay an initial $35 million by the end of 2024, with the remaining amount due by July 1, 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40754258/jp-morgan-shows-most-interest-in-teva-organon-as-specialty-pharma-sector-exhibits-s" rel="noreferrer noopener">JP Morgan Shows Most Interest In Teva, Organon As Specialty Pharma Sector Exhibits Signs Of Stability</a>.
The <a target="_blank" href="https://mayor.baltimorecity.gov/news/press-releases/2024-09-09-city-baltimore-reaches-80-million-deal-teva-pharmaceuticals-resolve" rel="noreferrer noopener">settlement</a> is part of Baltimore's broader litigation strategy against opioid manufacturers and distributors.
Previous settlements with AbbVie Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) Allergan, CVS Health Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), and Cardinal Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) have brought in $322.5 million in total recoveries.
The ongoing legal battle will proceed to trial on Sept. 16 against the remaining defendants, who were responsible for more than half of the opioids distributed in Baltimore.
Mayor Scott emphasized the city's decision to opt out of the national Teva settlement, which would have yielded only $11 million over 13 years. Instead, the new agreement brings in more than seven times that amount in under a year.
Baltimore secured more than three times the funds it would have received from global settlements.
Baltimore will dedicate $5 million to education and outreach about the 988 crisis helpline, $3 million to the Penn North Recovery Center and $2 million to BMore Power.
Additional funds will be administered following the framework detailed in the executive order to address the ongoing epidemic.
In July, Teva announced topline results from its Phase 3 SPACE study evaluating the efficacy of Ajovy (fremanezumab) for the prevention of episodic migraine in children and adolescent <a href="https://www.benzinga.com/general/biotech/24/07/39843370/tevas-migraine-treatment-found-effective-for-children-as-young-as-6" target="_blank" rel="noreferrer noopener">patients aged 6-17</a>.
The trial met its primary endpoint with Ajovy achieving a statistically significant superior efficacy over 12 weeks of treatment compared to placebo.
TEVA Price Action: Teva stock is down 1.43% at $17.55 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40793504/viridian-therapeutics-discloses-exciting-data-from-experimental-thyroid-eye-disease-candidate-say" target="_blank" rel="noreferrer noopener">Viridian Therapeutics Discloses &#8216;Exciting&#8217; Data From Experimental Thyroid Eye Disease Candidate, Says Data Met High Bars For Efficacy, Safety</a>.</li>
</ul>
Photo: Ralf Liebhold via Shutterstock

Teva Set To Be Fined By EU Antitrust Regulators In Coming Weeks For Disparaging Rival Multiple Sclerosis Medicine

AAPL

INSP

MASI

VVOS

Apple Announces New Sleep Apnea Features On Apple Watch; Stocks With The Same Technology See Volume

JP Morgan notes that while there&#8217;s a resurgence of interest and excitement in new product launches within the specialty group, including branded and complex generics/biosimilars, investors should be discerning about these opportunities.
The group&#8217;s core fundamentals have strengthened, buoyed by a more stable environment for generic and established brand pricing, which helps mitigate the usual erosion in base business prices.
However, growth in the overall sector remains modest, with most companies experiencing a top-line compound annual growth rate (CAGR) of 0-2%.
Additionally, valuations have recovered, with most stocks now trading near their historical averages.
JP Morgan writes that Teva Pharmaceutical Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) continues to be the primary focus among investors in the group, with sentiment growing more bullish.
The analyst <a target="_blank" href="https://www.benzinga.com/quote/TEVA/analyst-ratings" rel="noreferrer noopener">maintains a Neutral rating</a>, as the market seems to have fully accounted for the company&#8217;s branded pipeline. Additionally, JP Morgan is cautious about Teva&#8217;s U.S. generic business compared to market expectations.
The analyst has given Viatris Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>) <a target="_blank" href="https://www.benzinga.com/quote/VTRS/analyst-ratings" rel="noreferrer noopener">a Neutral rating</a>, citing its stable fundamentals and low valuation amidst uncertainties in business development.
Meanwhile, JP Morgan holds a <a target="_blank" href="https://www.benzinga.com/quote/PRGO/analyst-ratings" rel="noreferrer noopener">more optimistic view</a>, an Overweight rating on Perrigo Co plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>), noting the potential for earnings per share (EPS) to rebound to the low-mid $3 range soon due to currently low market sentiment. With shares currently trading at a significantly lower price than other consumer sector peers, the analyst believes there is substantial potential for an increase in valuation multiples as the recovery progresses.
Similarly, positive <a target="_blank" href="https://www.benzinga.com/quote/AMPH/analyst-ratings" rel="noreferrer noopener">prospects are seen</a> for Amphastar Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPH#NASDAQ">AMPH</a>), where the analyst anticipates a promising series of catalysts leading into 2024/2025. Keeps Overweight rating.
JP Morgan is adjusting several ratings, which are relative to each other. The analyst has changed Amneal Pharmaceuticals, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMRX#NASDAQ">AMRX</a>) to <a target="_blank" href="https://www.benzinga.com/quote/AMRX/analyst-ratings" rel="noreferrer noopener">Neutral from Underweight</a> and Organon &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGN#NYSE">OGN</a>) to <a target="_blank" href="https://www.benzinga.com/quote/OGN/analyst-ratings" rel="noreferrer noopener">Underweight from Neutral</a>.
For Amneal, the company&#8217;s success in launching new products suggests the potential for improved financial forecasts, which could bolster the stock.
Conversely, Organon&#8217;s stock price has increased 60% year-to-date. Although its valuation still appears low, the recent price surge suggests more attractive opportunities within the sector may exist.
Price Action: OGN stock is down 2.95% at $20.73, and AMRX stock is down 1.42% at $8.33 at last check Friday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40752830/robinhood-shifted-from-meme-stock-to-market-contender-amid-new-products-and-global-" target="_blank" rel="noreferrer noopener">Robinhood Shifted From Meme Stock To Market Contender Amid New Products And Global Expansion: Analyst Upgrades Stock</a>.</li>
</ul>

In a significant move to mitigate the ongoing shortage of ADHD medications in the U.S., the Drug Enforcement Administration (DEA) has authorized a substantial increase in the production limits for Takeda Pharmaceutical Co Ltd&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) <a target="_blank" href="https://www.benzinga.com/general/biotech/23/06/32948636/adhd-medication-shortage-worsens-vyvanse-supply-dwindles-amid-adderall-scarcity" rel="noreferrer noopener">Vyvanse and its generic versions</a>.
Following the FDA&#8217;s request in July, the production of Vyvanse, known chemically as lisdexamfetamine, will increase by 24%. This decision addresses not only the domestic shortfall but also the rising international demand.
The shortage of ADHD drugs, notably Vyvanse and Adderall, a product of Israel-based Teva Pharmaceutical Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), has been exacerbated by manufacturing delays and a spike in demand.
Recognized by the DEA as a Schedule II controlled substance, lisdexamfetamine requires additional prescribing safeguards due to its high potential for abuse.
The DEA&#8217;s recent production adjustment includes an additional 6,236 kilograms of lisdexamfetamine, divided into 1,558 kilograms to meet the increased U.S. demand and 4,678 kilograms for international markets.
&#8220;These adjustments are necessary to ensure that the United States has an adequate and uninterrupted supply of lisdexamfetamine to meet legitimate patient needs both domestically and globally,&#8221; <a target="_blank" href="https://public-inspection.federalregister.gov/2024-20114.pdf" rel="noreferrer noopener">stated</a> the DEA.
Further bolstering the supply chain, Reuters highlighted the FDA last year approved generic versions of Vyvanse from 11 drug manufacturers, including U.S.-based Mallinckrodt Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MCKPF#OTC">MCKPF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MNKTQ#OTC">MNKTQ</a>) and Viatris Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>), UK-based Hikma Pharmaceuticals Plc, (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HKMPF#OTC">HKMPF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HKMPY#OTC">HKMPY</a>) and Indian drugmaker Sun Pharmaceutical Industries.
These approvals came after Takeda&#8217;s exclusivity on the drug ended, opening the market to more players and <a href="https://www.benzinga.com/general/biotech/22/10/29248173/fda-signals-shortage-for-teva-pharmas-adhd-drug-due-to-manufacturing-delay" target="_blank" rel="noreferrer noopener">potentially stabilizing supply</a>.
Price Action: TAK shares are down by 0.10% to $14.91 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40738760/dollar-stores-struggle-when-walmart-performs-well-report" target="_blank" rel="noreferrer noopener">Dollar Stores Struggle When Walmart Performs Well: Report</a>.</li>
</ul>

HKMPF

HKMPY

MCKPF

MNKTQ

Shortage Relief: More Takeda's Vyvanse For ADHD On the Way As US Ramps Up Production

In the latest quarter, 4 analysts provided ratings for Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Teva Pharmaceutical Indus, revealing an average target of $23.75, a high estimate of $26.00, and a low estimate of $22.00. This upward trend is apparent, with the current average reflecting a 10.47% increase from the previous average price target of $21.50.
<img src="https://www.benzinga.com/files/images/story/2024/1725390076_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A comprehensive examination of how financial experts perceive Teva Pharmaceutical Indus is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ashwani Verma</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$26.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Balaji Prasad</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Ashwani Verma</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Glen Santangelo</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$23.00</td>
<td>$19.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Teva Pharmaceutical Indus. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Teva Pharmaceutical Indus compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Teva Pharmaceutical Indus's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Teva Pharmaceutical Indus's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/TEVA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Teva Pharmaceutical Indus analyst ratings.</a>
<h2>Get to Know Teva Pharmaceutical Indus Better</h2>
Teva Pharmaceutical Industries, based in Israel, is the leading generic drug manufacturer in the world. Teva derives half of its sales from North America and makes up a high-single-digit percentage of the total number of generic prescriptions in the US. It also has a significant presence in Europe, Japan, Russia, and Israel. Besides generics, Teva has a portfolio of innovative medicines and biosimilars in three main therapeutic areas: central nervous system with Copaxone, Ajovy, and Austedo; respiratory with Qvar and ProAir; and oncology with Truxima, Herzuma, and Bendeka/Treanda. Teva also sells active pharmaceutical ingredients, offers contract manufacturing services, and owns Anda, a US-based generic and specialty drug distributor.
<h3>Teva Pharmaceutical Indus: Financial Performance Dissected</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Positive Revenue Trend: Examining Teva Pharmaceutical Indus's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.4% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Teva Pharmaceutical Indus's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -20.32%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Teva Pharmaceutical Indus's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -12.41%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Teva Pharmaceutical Indus's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -2.01%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a below-average debt-to-equity ratio of 2.98, Teva Pharmaceutical Indus adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Significance of Analyst Ratings Explained</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Teva Pharmaceutical Indus Analyst Ratings

UBS analyst Ashwani Verma maintains Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) with a Buy and raises the price target from $24 to $26.

UBS Maintains Buy on Teva Pharmaceutical Indus, Raises Price Target to $26

The recent move by the U.S. government to negotiate Medicare drug prices has triggered speculation about which drugs could be targeted in the next round of negotiations, which is set for 2027.
Last week, the&nbsp;Biden administration announced that Medicare's newly negotiated prescription drug prices are expected to save the U.S. government<a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40397706/biden-administration-targets-6b-savings-through-medicare-drug-price-negotiations" rel="noreferrer noopener"> $6 billion in the first year alone</a>.
According to some analysts, Novo Nordisk A/S' (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) blockbuster diabetes drug Ozempic might be included, along with several other well-known medications.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40422798/doctors-struggle-to-secure-medicare-coverage-for-heart-patients-on-novo-nordisks-wegovy" rel="noreferrer noopener">Doctors Struggle to Secure Medicare Coverage for Heart Patients on Novo Nordisk's Wegovy</a>.
These could include Pfizer Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) cancer drugs Ibrance and Xtandi, GSK Plc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) asthma treatment Trelegy Ellipta, Teva Pharmaceutical Industries Ltd.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) Huntington's disease drug Austedo, and Abbvie Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) irritable bowel syndrome treatment Linzess.
The list would focus on drugs available since at least 2017, primarily those on which Medicare spends heavily.
Under President Joe Biden's Inflation Reduction Act (IRA), the prices of 10 popular Medicare drugs will be reduced by up to 79% in 2026.
This move has faced resistance from the pharmaceutical industry, which argues that such measures could stifle innovation. Government officials, however, maintain their commitment to reducing healthcare costs.
Despite concerns about the impact on pharmaceutical companies, a Reuters report suggests the financial blow might be less severe than anticipated.
Company executives appear to be cautiously optimistic. Pfizer's Chief U.S. Commercial Officer, Aamir Malik, stated that the timing of patent expirations for Ibrance and Xtandi could allow the company to manage the price negotiations effectively.
Similarly, Teva CEO Richard Francis acknowledged the potential impact of price cuts but remained confident in Austedo's growth prospects, forecasting $2.5 billion in earnings by 2027.
Abbvie's CEO expressed a similar sentiment, indicating that their long-term outlook remains intact, even considering future negotiations.
Regulators will announce up to 15 more drugs for negotiation in 2028, potentially expanding the scope to include medications covered under Medicare's Part B program.
As drug negotiations progress, the Congressional Budget Office estimates that savings from the IRA will rise to $9.4 billion by 2027, marking a significant step in the government's effort to reduce healthcare costs.
Price Action: NVO stock is down 0.64% at $136 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40533244/why-is-diagnostic-tests-provider-applied-dna-sciences-stock-trading-higher-on-friday" target="_blank" rel="noreferrer noopener">Why Is Diagnostic Tests Provider Applied DNA Sciences Stock Trading Higher On Friday?</a></li>
</ul>
Image By Natalia Varlei On Shutterstock

Government

Regulations

Novo Nordisk's Ozempic Might Be Among 2027 Medicare Price Negotiation Targets

Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) has outperformed the market over the past 5 years by 7.65% on an annualized basis producing an average annual return of 21.99%. Currently, Teva Pharmaceutical Indus has a market capitalization of $20.51 billion. 
Buying $1000 In TEVA: If an investor had bought $1000 of TEVA stock 5 years ago, it would be worth $2,443.40 today based on a price of $18.10 for TEVA at the time of writing.
<h3>Teva Pharmaceutical Indus's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724275816_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,400 Today

High-rolling investors have positioned themselves bearish on Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in TEVA often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Teva Pharmaceutical Indus. This is not a typical pattern.
The sentiment among these major traders is split, with 27% bullish and 36% bearish. Among all the options we identified, there was one put, amounting to $41,720, and 10 calls, totaling $778,573.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $14.0 to $25.0 for Teva Pharmaceutical Indus over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Teva Pharmaceutical Indus options trades today is 13000.0 with a total volume of 34,824.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Teva Pharmaceutical Indus's big money trades within a strike price range of $14.0 to $25.0 over the last 30 days.
<h3>Teva Pharmaceutical Indus Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723657527_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$0.35</td>
<td>$0.27</td>
<td>$0.33</td>
<td>$17.50</td>
<td>$181.5K</td>
<td>8.8K</td>
<td>5.7K</td>
</tr>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.14</td>
<td>$14.00</td>
<td>$161.0K</td>
<td>27.9K</td>
<td>10.3K</td>
</tr>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$2.35</td>
<td>$2.28</td>
<td>$2.32</td>
<td>$16.00</td>
<td>$90.2K</td>
<td>30.8K</td>
<td>10.3K</td>
</tr>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$4.05</td>
<td>$3.95</td>
<td>$4.0</td>
<td>$14.00</td>
<td>$80.0K</td>
<td>27.9K</td>
<td>451</td>
</tr>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$4.0</td>
<td>$3.9</td>
<td>$3.94</td>
<td>$14.00</td>
<td>$78.8K</td>
<td>27.9K</td>
<td>201</td>
</tr>
</tbody>
</table>

<h3>About Teva Pharmaceutical Indus</h3>
Teva Pharmaceutical Industries, based in Israel, is the leading generic drug manufacturer in the world. Teva derives half of its sales from North America and makes up a high-single-digit percentage of the total number of generic prescriptions in the US. It also has a significant presence in Europe, Japan, Russia, and Israel. Besides generics, Teva has a portfolio of innovative medicines and biosimilars in three main therapeutic areas: central nervous system with Copaxone, Ajovy, and Austedo; respiratory with Qvar and ProAir; and oncology with Truxima, Herzuma, and Bendeka/Treanda. Teva also sells active pharmaceutical ingredients, offers contract manufacturing services, and owns Anda, a US-based generic and specialty drug distributor.
<h3>Where Is Teva Pharmaceutical Indus Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 11,002,906, the TEVA's price is down by 0.0%, now at $17.13. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 84 days.</li>
</ul>
<h3>What The Experts Say On Teva Pharmaceutical Indus</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $22.0.
<ul>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Teva Pharmaceutical Indus, targeting a price of $22. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Teva Pharmaceutical Indus options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Spotlight on Teva Pharmaceutical Indus: Analyzing the Surge in Options Activity

Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) has outperformed the market over the past 5 years by 7.47% on an annualized basis producing an average annual return of 20.62%. Currently, Teva Pharmaceutical Indus has a market capitalization of $19.32 billion. 
Buying $100 In TEVA: If an investor had bought $100 of TEVA stock 5 years ago, it would be worth $267.24 today based on a price of $17.05 for TEVA at the time of writing.
<h3>Teva Pharmaceutical Indus's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723582879_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Teva Pharmaceutical Indus 5 Years Ago Would Be Worth This Much Today

Barclays analyst Balaji Prasad maintains Teva Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) with a Overweight and raises the price target from $21 to $22.

Barclays Maintains Overweight on Teva Pharmaceutical Indus, Raises Price Target to $22

Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. This broad tech rally was propelled by a sharp rebound in chipmakers, buoyed by robust corporate earnings and easing concerns over chip<a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne"> export restrictions to China.</a>
The Federal Reserve is expected to maintain interest rates at 5.25-5.50%, but market attention is fixed on Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, for any hints of a potential rate cut in September, which market participants have fully priced in.
The Nasdaq 100 surged 2.7%, with 87 of its constituents in positive territory, led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which jumped 11%. The tech-heavy index hasn&#8217;t experienced such a rally since February 2024.
The Biden administration is planning to introduce new regulations next month to restrict the export of semiconductor manufacturing equipment to Chinese chipmakers, with key allies like Japan, the Netherlands, and South Korea being exempt, according to Reuters. 
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) soared over 5%, also marking its strongest session since late February 2024.
The S&amp;P 500 also posted solid gains, rising 1.6%. Small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), increased by 1.1%, eyeing their highest close since January 2022. Blue chips climbed 0.7%.
The dollar eased 0.2%, weighed down by a disappointing July private employment report released earlier by the ADP. The Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rallied 1.4% following an overnight rate hike by the Bank of Japan.
In commodities, gold rose 0.7%, surpassing $2,400 per ounce, and silver climbed 1.4%. Oil prices surged 3% amid escalating geopolitical tensions in the Middle East following the assassination of Hamas chief Ismail Haniyeh by Israeli forces in Iran.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.3%.
<h3 class="wp-block-heading">Wednesday&#8217;s Movers In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,306.28</td>
<td>2.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,523.20</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,267.02</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,030.77</td>
<td>0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.6% higher to $550.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $410.22.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.6% to $469.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $224.09.</li>
<li>Sector-wise, the Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, rallying 3.4%, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, up 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), up 4%.</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), down 3.8%,</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) up over 9%,</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) up 8.2%,</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) up 1.5%,</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) up 0.4%,</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), up 5.1%,</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) up over 12%,</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) down about 1%,</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) up 5.3%, </li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) up 1.8%,</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) down 4.5%,</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) down 4.6%, </li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) down 2.3%,</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) down 8.8%,</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) up 3.5%, </li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) up 4.3%,</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) up 2.1%, </li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) down 1%, </li>
<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) (down over 2.50%)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down 1.8%</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) down 2.8%,</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) down 3.1%,</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) down over 12%</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) up over 4%, </li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) up over 8%,</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) up 2.5%,</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) down 1.5%.</li>
</ul>
Stocks reporting after the close include: 
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>).</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/federal-reserve/24/07/40071662/fed-shouldnt-wait-until-september-poll-finds-nearly-half-want-rate-cuts-today">Fed Shouldn&#8217;t Wait Until September: Poll Finds Nearly Half Want Rate Cuts Today</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Earnings

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Commodities

Small Cap

Econ #s

Federal Reserve

Tech

ETFs

$BTC

ANET

BLCO

CHRW

CVNA

SPDR Dow Jones Industrial Average ETF Trust

EBAY

ETSY

FRSH

FSLR

GOLD

GRMN

LRCX

MSFT

MTCH

NCLH

NTGR

NVDA

PINS

QCOM

SBUX

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

TDOC

TMUS

WING

Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What's Driving Markets Wednesday?

U.S. stocks were higher, with the Dow Jones index gaining over 200 points on Wednesday.
Shares of Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) surged 15% to $38.74 after the company reported better-than-expected second-quarter revenue results and issued str<a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">ong third-quarter revenue guidance</a>.
Match Group reported quarterly earnings of 48 cents per share, in-line with the analyst consensus estimate. Quarterly sales clocked in at $864 million which beat the analyst consensus estimate of $856.4 million and is a 4.15% increase from the same period last year.
Match Group surged 15% to $38.74 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) jumped 33.2% to $177.43 after the company reported better-than-expected Q3 GAAP EPS and sales.</li>
<li>Stardust Power Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) shares surged 23.9% to $14.65.</li>
<li>Modine Manufacturing Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) surged 20.2% to $118.85 after the company reported better-than-expected&nbsp;first-quarter&nbsp;financial results.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) surged 19.6% to $21.01.</li>
<li>Fiverr International Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) jumped 18.5% to $25.94 after the company reported better-than-expected second-quarter financial results.</li>
<li>Parsons Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) gained 16.4% to $89.82 after the company reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
<li>Talen Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLN#NYSE">TLN</a>) rose 13.6% to $125.98.</li>
<li>The Scotts Miracle-Gro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) jumped 12.7% to $79.17 following better-than-expected quarterly financial results.</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) gained 12.6% to $41.56 following second-quarter earnings.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) jumped 11.1% to $187.41.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 11% to $115.04.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) rose 8.8% to $338.70 as the company reported better-than-expected second-quarter financial results and raised its third-quarter revenue guidance.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) gained 8.7% to $17.84 after the company reported better-than-expected quarterly financial results and issued FY24 guidance.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow&#8217;</a></li>
</ul>

Intraday Update

Movers

FVRR

POWL

SAVA

SDST

Match Group Posts Upbeat Sales, Joins Modine Manufacturing, Scotts Miracle-Gro, NVIDIA  And Other Big Stocks Moving Higher On Wednesday

Organon downgraded, Amneal upgraded as J.P. Morgan reviews specialty pharma

In a report released today, Ashwani Verma from UBS maintained a Buy rating on Teva Pharmaceutical (TEVA – Research Report), with a price target of ...

UBS Sticks to Its Buy Rating for Teva Pharmaceutical (TEVA)

In a report released today, Glen Santangelo from Jefferies maintained a Buy rating on Teva Pharmaceutical (TEVA – Research Report), with a price ta...

Jefferies Keeps Their Buy Rating on Teva Pharmaceutical (TEVA)

Cheap Teva Stock Should Reward Patient Investors

Teva facing EU fine for disparaging Copaxone rival: report

UnitedHealth joins Cigna, CVS in removing AbbVie's Humira from formularies: report

Xencor: Vudalimab Development Along With Hidden Gem Candidate

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Teva Pharmaceutical (TEVA – Research Report) and A...

Analysts Conflicted on These Healthcare Names: Teva Pharmaceutical (TEVA) and Adicet Bio (ACET)

Teva Pharmaceutical Industries Limited (TEVA) Bank of America Global Healthcare Conference (Transcript)

Jefferies Reaffirms Their Buy Rating on Teva Pharmaceutical (TEVA)

ACET

PCRX

RHHBF

RHHBY

RHHVF

SNYNF

TEVJF

XNCR

Press Releases

New AJOVY® (fremanezumab) Migraine Prevention Data Challenges Treatment Pauses

Teva to Host Conference Call to Discuss Second Quarter 2024 Financial Results at 8 a.m. ET on July 31, 2024

Teva Announces First Phase 3 Evidence of Efficacy and Safety of an Anti-CGRP Monoclonal Antibody in Children in AJOVY® (fremanezumab) SPACE Trial for Prevention of Episodic Migraine

Teva and Sanofi Announce Accelerated Timeline for Anti-TL1A Phase 2b Program in Patients with Inflammatory Bowel Disease

Teva Announces Strong Growth in Second Quarter Revenues mainly driven by Generics Products in All Regions and AUSTEDO®; Raises 2024 Financial Guidance

Teva to Present at the Morgan Stanley 22nd Annual Global Healthcare Conference

Teva to Present at the Bank of America 2024 Global Healthcare Conference

New Data Provide Treatment Insights into Options for Switching Adult Patients Diagnosed with Schizophrenia to UZEDY® (risperidone) Extended-Release Injectable Suspension from Perseris® (RBP-7000)

Teva Presents New Phase 3 Efficacy, Safety and Tolerability Data from SOLARIS Trial Evaluating TEV-'749 (olanzapine) as a Once-Monthly Subcutaneous Long-Acting Injectable for Adult Patients Diagnosed with Schizophrenia

Teva Announces Long Term Efficacy and Safety of Deutetrabenazine in European Patients with Debilitating Movement Disorder Tardive Dyskinesia

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Teva Pharmaceutical Indus

Teva Pharmaceutical Indus (TEVA) Forecast

Teva Pharmaceutical Indus (NYSE:TEVA) Stock, Quote.Headers.trade-ideas