From Investor’s Business Daily: 2024-05-08 13:32:05

Teva stock reached a five-year high after beating first-quarter expectations and showcasing positive results from a schizophrenia treatment study. Teva is striving to create a monthly shot for schizophrenia treatment, as olanzapine, the current antipsychotic treatment, can be challenging for patients to maintain. The new treatment showed significant improvements in final-phase testing without any serious side effects. Teva stock surged more than 14% to hit 15.93, its highest point since March 2019.

Teva also reported mixed earnings for the first quarter, with adjusted earnings slightly below expectations but still showing a 20% increase year over year. The company’s sales increased by 4%, and the best growth came from its movement disorder treatment Austedo. Teva affirmed its full-year sales outlook and is anticipated to unveil results from its ulcerative colitis and Crohn’s disease study later this year.

Moreover, Teva stock has a nearly perfect Composite Rating of 98 and an IBD Digital Relative Strength Rating of 91, signifying strong fundamental and technical performance. Evercore ISI analyst Umer Raffat highlighted the potential of Teva’s long-acting version of olanzapine and its positive results compared to competitors. It is projected to be a billion-dollar product for Teva, offering significant growth opportunities.



Read more at Investor’s Business Daily: Teva Stock Catapults To Five-Year High As Its Turnaround Story Lodges A Key Win