Biotech Pre-Market Movers: Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA), Synergy Pharmaceuticals Inc(NASDAQ:SGYP), Pfizer Inc.(NYSE:PFE), AstraZeneca plc (ADR)(NYSE:AZN)



The American Despositary Receipts of Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) edged up in recent pre-market trading on Monday after announcing over the weekend an agreement it has signed with Takeda Pharmaceutical for the marketing and sale of Rasagiline in Japan.

Rasagiline is a treatment for Parkinson’s Disease developed by TEVA and has been approved in over 40 countries.

TEVA closed at $48.69 on Friday in a 52-week range of $36.26 – $54.70.

Analysts have a consensus price target of $56 on Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) which indicates a 15% upside. The consensus rating of the stock is a Buy with a score of 2.61. There are currently 9 Hold ratings, 1 Strong Buy rating and 9 Buy ratings on the stock.

A recent analyst action consisted of Zacks reiterating their Neutral rating and $53 price target on the stock.

Synergy Pharmaceuticals Inc(NASDAQ:SGYP) announced the start of its second pivotal phase 3 clinical trial to confirm the safety and efficacy of plecanatide, its lead uroguanylin analog and once-daily oral treatment, in adult patients with chronic idiopathic constipation, or CIC. This phase 3 trial is a randomized, double-blind clinical trial to compare a 12-week, dose-ranging regimen of plecanatide against placebo in adult patients with CIC.

Analysts have a consensus price target of $16.33 on Synergy Pharmaceuticals Inc(NASDAQ:SGYP) which indicates a 242% upside. The consensus rating of the stock is a Buy with a score of 3.00. There are currently 4 Buy ratings on the stock.

A recent analyst action consisted of Aegis boosting their price target to $28 on March 24th.

Pfizer Inc.(NYSE:PFE) confirms that it previously submitted a preliminary, non-binding indication of interest to the board of directors of AstraZeneca plc (ADR)(NYSE:AZN) in January regarding a possible merger transaction. The company said, “After limited high-level discussions, AstraZeneca declined to pursue negotiations. The discussions were discontinued on 14 January 2014 and Pfizer then ceased to consider a possible transaction. In light of recent market developments, Pfizer contacted AstraZeneca on 26 April 2014 seeking to renew discussions in order to develop a proposal that could be recommended by both companies to their shareholders. :the

Analysts have a consensus price target of $56 on Pfizer Inc.(NYSE:PFE) which indicates a 6.5% upside. The consensus rating of the stock is a Hold with a score of 2.44. There are currently 6 Hold ratings, 2 Sell ratings and 10 Buy ratings on the stock.

A recent analyst action consisted of Jeffries lowering their price target to $36, while maintaining their Buy rating.

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