In a report released yesterday, Jason Gerberry from Bank of America Securities reiterated a Buy rating on Teva Pharmaceutical, with a price target of $22.00.
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Jason Gerberry has given his Buy rating due to a combination of factors including the sustained demand for Teva Pharmaceutical’s Austedo, which is expected to achieve significant growth in the VMAT2 market. The analyst’s confidence is bolstered by survey data indicating that Austedo will maintain a competitive edge, with an anticipated 50-50 market split in the VMAT2 category. This positive outlook is supported by the absence of additional payer utilization restrictions, which is favorable for market access.
Furthermore, the survey results suggest that Austedo is slightly ahead of its competitor, Ingrezza, in terms of market share, with expectations of continued growth. The anticipated increase in VMAT2 prescriptions over the next five years, coupled with Teva’s strategic launch of the XR formulation and investments in brand support, are likely to enhance Austedo’s market position. These factors, along with Teva’s attractive valuation and promising new product cycle, underpin Gerberry’s Buy rating for the stock.
According to TipRanks, Gerberry is a 3-star analyst with an average return of 1.6% and a 48.98% success rate. Gerberry covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical, United Therapeutics, and Liquidia Technologies.
In another report released on July 9, J.P. Morgan also maintained a Buy rating on the stock with a $23.00 price target.