Teva Pharmaceutical: 3 Numbers That Explain This Generic-Drug Turnaround
Built on substance, not hype, Teva's mega rally is just getting started.
Overview
Teva Pharmaceuticals (NYSE: TEVA) recently hit a new 52-week high of $40.79 per share and has surged 110% in the last year. It's the drugmaker's turnaround, fueled by a pivot from generic to branded products, driving this mega rally among pharmaceutical stocks.
To some, it still doesn't make sense that Teva surged so far, so fast, given that the company has yet to see a big jump in revenue or earnings. However, a closer look at three company metrics makes it clear why investors continue to bid shares higher.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.