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TEVA

Teva

$17.79

2.0937 (13.34%)

12:03
12/14/17
12/14
12:03
12/14/17
12:03

Teva cost, headcount cuts 'substantially' higher than expected, says Jefferies

Jefferies analyst David Steinberg noted that the greater than 25% reduction in headcount and $3B reduction in cost base targeted by Teva are both "substantially" higher than recent media reports had been discussing. New CEO Kare Schultz, who must deliver rapid results, was consistent with his prior commentary of being a believer in margins over volume with his strategy for optimizing Teva's generic portfolio for profit, added Steinberg, who is restricted on publishing a rating on Teva shares.

  • 14

    Dec

TEVA Teva
$17.79

2.0937 (13.34%)

12/06/17
JEFF
12/06/17
NO CHANGE
Target $81
JEFF
Buy
ICER panel vote bodes well for Neurocrine's Ingrezza, says Jefferies
The Institute for Clinical and Economic Review's New England Comparative Effectiveness Public Advisory Council convened yesterday to review clinical and economic evidence on new VMAT2i therapies for tardive dyskinesia, Jefferies analyst Biren Amin tells investors in a research note. The panel addressed the draft report which suggested an 85%-90% discount in prices of Neurocrine Biosciences' (NBIX) Ingrezza and Teva's (TEVA) Austedo were needed to achieve cost-effectiveness by commonly accepted cutoffs. The panel, however, found cumulative evidence of potential significant health benefits for Ingrezza and Austedo not captured in the QALY calculation, the analyst points out. Amin believes the vote bodes well for Ingrezza reimbursement. He keeps a Buy rating on Neurocrine with an $81 price target.
12/12/17
GUGG
12/12/17
INITIATION
GUGG
Neutral
Teva initiated with a Neutral at Guggenheim
Guggenheim analyst Rohit Vanjani initiated Teva with a Neutral and $16 price target saying the company faces a number of headwinds with limited branded opportunities. Further, new CEO Kare Schultz will likely have to decide on restructuring measures and generics focus, the analyst wrote.
12/12/17
12/12/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mylan (MYL), Teva (TEVA) and Endo (ENDP) initiated with a Neutral at Gugenheim, while Impax (IPXL) was initiated with a Buy. 2. Stitch Fix (SFIX) initiated with an Outperform at William Blair, a Neutral at JPMorgan and Goldman Sachs, an Overweight at Piper Jaffray, an Equal Weight at Barclays and a Hold at Stifel. 3. Exxon Mobil (XOM) and ConocoPhillips (COP) initiated with a Neutral at Credit Suisse. The firm also started Range Resources (RRC) and Anadarko (APC) with an Outperform, and Laredo Petroleum (LPI), Energen (EGN), Southwestern Energy (SWN), Noble Energy (NBL), Murphy Oil (MUR), Cabot Oil & Gas (COG) and Newfield Exploration (NFX) with a Neutral rating. 4. Restaurant Brands (QSR) initiated with an Outperform at Evercore ISI. 5. Waste Connections (WCN) initiated with an Outperform, named a top pick at BMO Capital. This list is just a portion of The Fly's full analyst coverage. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/14/17
WELS
12/14/17
NO CHANGE
WELS
Market Perform
Wells questions benefit of Teva cutting 25% of workforce
Wells Fargo analyst David Maris questions how beneficial Teva cutting 14,000 jobs will be and whether the disruption will further weaken the company's business and financial controls. Teva's 2017 estimated sales per employee of approximately $391,000 already outperforms its closest peer Mylan (MYL) at $342,000, Maris tells investors in a research note. He expects investors will like the plan Teva announced this morning, however, and notes the stock is up 17% in premarket trading. The new CEO's $3B cost savings goal is larger than expected, Maris writes. He says that while this is more needed for survival versus optimization, it may also have significant negative effects to Teva's competitiveness. Maris keeps a Market Perform rating on Teva.

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$37.31

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