On July 29, Teva Pharmaceutical rose 5.15% in pre-market trading, trading at $33.3/share, with turnover of $856,100.
The movement was primarily driven by the company's Q2 earnings release. Teva reported quarterly revenue of $4.142 billion, exceeding the analyst consensus estimate of $4.047 billion. However, adjusted earnings per share came in at just $0.02, missing the consensus estimate of $0.25 by 92% and representing a nearly 97% decline from $0.66 per share in the year-ago period. Despite the significant EPS shortfall, the top-line beat appears to be supporting pre-market price action.
The company had previously delivered a strong Q1, with adjusted EPS of $0.53 beating the $0.48 estimate by over 10% on revenue of $3.982 billion. Full-year Non-GAAP EPS guidance remains at $1.91 to $2.11. Recent pipeline developments include exclusive rights to commercialize Polpharma's biosimilar candidate to Ocrevus, an NDA submission for ecopipam in pediatric Tourette syndrome, and the European launch of Eylea biosimilar Ahzantive.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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