Teva Pharmaceutical Industries Ltd (TEVA) Ends Trading Week Defying Market Bloodbath

We recently compiled a list of the 10 Firms End Trading Week Defying Market Bloodbath. In this article, we are going to take a look at where Teva Pharmaceutical Industries Ltd (NYSE:TEVA) stands against the other stocks.

A wave of selling gripped Wall Street this Friday, pushing major indices lower as investors shifted capital towards more attractive investment opportunities.

Ten companies bucked an overall bearish market sentiment, booking significant gains during the last trading day of the week. Let’s explore how they managed to buck the trend and what factors contributed to their remarkable performance amidst widespread market uncertainty.

A close-up shot of various types of medicines on a table, illustrating the specialty and generic products offered by the pharmaceutical company.

Teva Pharmaceutical Industries Ltd (NYSE:TEVA)

Shares of Teva Pharmaceutical (TEVA) grew by 0.66 percent on Friday to finish at $22.77 apiece, as investors snapped up on shares following news that the company’s Duvakitug drug, developed with its French counterpart Sanofi, met its primary goals of treating ulcerative colitis and Crohn’s disease.

Last year, the two firms announced a partnership to develop treatments for inflammatory bowel disease (IBD), with hopes that the drug could achieve a blockbuster status and generate at least $1 billion in annual sales.

Citing technical indicators, analysts said that Teva’s current valuation is already on overbought levels after hitting a new 52-week high.

Year-to-date, Teva’s shares marked a whopping 113-percent jump from only $10.67 apiece on January 2.

Overall TEVA ranks 9th on our list of the firms that ended the trading week defying market bloodbath. While we acknowledge the potential of TEVA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TEVA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.