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Eric A. Hughes, Executive Vice President, Global R&D and Chief Medical (TASE:BLWV) Officer at Teva Pharmaceutical (TADAWUL:2070) Industries Ltd. (NYSE:TEVA), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Hughes sold a total of 23,251 ordinary shares over two days.
On March 4, Hughes sold 15,174 shares at a weighted average price of $15.7346, while on March 5, he sold an additional 8,077 shares at a weighted average price of $15.9132. The total value of these transactions amounted to $367,287. While the stock has shown a 17.5% return over the past year, InvestingPro data suggests the shares are currently in oversold territory.
These sales were executed under a Rule 10b5-1 trading plan that Hughes adopted on November 15, 2024. Following these transactions, Hughes no longer holds any shares in the company. This activity is part of a broader pattern of executive stock transactions at Teva, and investors may wish to monitor such filings for future insights into insider trading activities. According to InvestingPro, analysts maintain a positive outlook with price targets ranging from $18 to $30, and the company is expected to return to profitability this year. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, Teva Pharmaceutical Industries Ltd. reported fourth-quarter earnings that exceeded analyst expectations, with adjusted earnings per share of $0.71, surpassing the consensus estimate of $0.69. Revenue also beat projections, reaching $4.23 billion against an anticipated $4.1 billion. Despite this, Teva’s 2025 outlook disappointed investors, with projected earnings per share of $2.35-$2.65, falling short of the $2.78 consensus, and revenue forecasts of $16.8-17.4 billion compared to the expected $17.09 billion.
Additionally, BofA Securities adjusted its financial outlook for Teva, reducing the stock price target to $20 from $23 while maintaining a Buy rating. This adjustment reflects revised expectations for Teva’s future earnings, particularly concerning its generic version of Revlimid. In another development, the FDA accepted a supplemental New Drug Application for UZEDY, a long-acting injectable for bipolar I disorder, which Teva co-developed with Medincell.
Moreover, Teva reached a settlement agreement with Axsome Therapeutics (NASDAQ:AXSM), resolving patent litigation over the drug AUVELITY®, allowing Teva to sell a generic version starting in 2038 or 2039. Despite these varied developments, BofA Securities remains optimistic about Teva’s future product cycles, citing upcoming high-value product launches.
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