Analyst Consensus ?
ConsensusHold46 ratings
Bullish2247.8%
Neutral2043.5%
Bearish48.7%
Teva Pharmaceutical Industries Limited · TEVA · FY2026 Q2 · Calendar Q3 2026
Teva’s innovative portfolio offsets generic weakness as revenue outlook rises
Teva’s quarter supports a transition toward a more innovation- and biosimilar-led mix: growth in AUSTEDO, AJOVY and UZEDY and expansion in biosimilars countered generic weakness. Sustaining that mix shift depends on launches and pipeline progress, while pricing, inventory and leverage remain constraints.
Reported Before market openNYSEHealthcare
$48.84B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.02
Consensus $0.08
EPS surprise
-75.0%
Reported versus consensus
Reported revenue
$4.14B
Consensus $4.02B
Revenue surprise
+3.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+9.6%
Event window
SPY move
-1.5%
Same window
Abnormal move
+11.1%
Stock minus SPY
Volume
3.7×
Versus trailing sessions
Subsequent drift
+9.2%
Up to 20 sessions
TEVASPY benchmark
Ask FN2 about TEVA FY2026 Q2
Transcript, numbers and history already loaded
Why did TEVA rise 9.6% after missing EPS estimates in FY2026 Q2?What changed in TEVA's guidance and outlook in FY2026 Q2?Give me the bull and bear case for TEVA after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised full-year revenue guidance by $75 million and increased guidance for AUSTEDO, AJOVY and UZEDY. It reaffirmed operating profit, EBITDA, EPS and free-cash-flow targets. Reported revenue exceeded consensus while EPS was below consensus.
Guidance delta
Full-year revenue guidance rose by $75 million, with higher product-level guidance for AUSTEDO, AJOVY and UZEDY; operating profit, EBITDA, EPS and free-cash-flow targets were reaffirmed.
Key takeaways
- Growth in innovative drugs offset a decline in generics, including pressure from the loss of generic REVLIMID revenue.
- Teva raised full-year revenue guidance and increased outlooks for AUSTEDO, AJOVY and UZEDY, while reaffirming other listed financial targets.
- The biosimilars portfolio had 15 marketed products and 14 in development; management cited a target of more than $800 million in revenue by 2027.
- Management highlighted the completed Amylyx and MLX acquisitions and planned launches and pipeline programs as part of its shift toward innovative biopharma.
Management priorities
- Grow the innovative portfolio, including AUSTEDO, AJOVY and UZEDY, and expand biosimilars.
- Advance olanzapine LAI and ecopitane toward planned launches, subject to regulatory progress.
- Progress pipeline programs and integrate the recently completed Amylyx and MLX acquisitions.
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Beat
Miss
Match
Analyst 52W Price Targets
$41.91Current
$10Low
$35.95Average
$50High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Oct 15, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 12, 2026 |
| UBS | Buy | Buy | Maintain | Sep 4, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 28, 2026 |
| Truist Securities | Buy | Buy | Maintain | Apr 30, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 9, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 9, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Jan 29, 2026 |
| Jefferies | Buy | Buy | Maintain | Jan 6, 2026 |
| Evercore ISI Group | Outperform | In Line | Upgrade | May 18, 2023 |
| BMO Capital | Market Perform | Market Perform | Maintain | Nov 7, 2022 |
| Argus Research | Hold | Buy | Downgrade | Jan 27, 2022 |
| Raymond James | Market Perform | Outperform | Downgrade | Oct 28, 2021 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 29, 2021 |
| SVB Leerink | Market Perform | Market Perform | Maintain | Aug 6, 2020 |
| SunTrust Robinson Humphrey | Buy | Hold | Upgrade | Jun 1, 2020 |
| Morgan Stanley | Underweight | Underweight | Maintain | Apr 2, 2020 |
| Oppenheimer | Outperform | Outperform | Maintain | Feb 13, 2020 |
| CFRA | Hold | Hold | Maintain | Feb 12, 2020 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Feb 12, 2020 |
| PiperJaffray | Neutral | Neutral | Maintain | Nov 8, 2019 |
| Gabelli & Co. | Buy | Hold | Upgrade | Oct 17, 2019 |
| Bank of America | Underperform | Buy | Downgrade | May 30, 2019 |
| Citigroup | Buy | Buy | Maintain | Apr 11, 2019 |
| Credit Suisse | Neutral | Neutral | Maintain | Feb 14, 2019 |
| Leerink Swann | Market Perform | Underperform | Upgrade | Oct 1, 2018 |
| Mizuho | Buy | Buy | Maintain | Sep 17, 2018 |
| BTIG Research | Neutral | Sell | Upgrade | Sep 17, 2018 |
| BTIG | Neutral | Sell | Upgrade | Sep 17, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 9, 2018 |
| JMP Securities | Underperform | Underperform | Maintain | Sep 6, 2017 |
| RBC Capital | Underperform | Outperform | Downgrade | Aug 4, 2017 |
| Cowen & Co. | Market Perform | Outperform | Downgrade | Aug 4, 2017 |
| Bernstein | Market Perform | Outperform | Downgrade | Aug 4, 2017 |
| HSBC | Hold | Buy | Downgrade | Nov 4, 2016 |
| Guggenheim | Buy | Neutral | Upgrade | Dec 4, 2015 |
| Standpoint Research | Buy | Buy | Maintain | Jul 27, 2015 |
| CRT Capital | Buy | Buy | Maintain | Mar 31, 2015 |
| Canaccord Genuity | Hold | Hold | Maintain | Mar 30, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Dec 12, 2014 |
| Standpoint | Buy | Hold | Upgrade | Oct 14, 2014 |
| Susquehanna | Positive | Neutral | Upgrade | Nov 20, 2013 |
| Buckingham Research | Neutral | Buy | Downgrade | Nov 30, 2012 |
| Needham | Hold | Strong Buy | Downgrade | May 10, 2012 |
| Clal Finance | Market Perform | Market Perform | Maintain | Mar 12, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $41.91. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Glen Santangelo | $47 | $40.72 | +12.1% | Oct 15, 2026 |
| Raymond James | Analyst unavailable | $50 | $41.1 | +19.3% | Oct 12, 2026 |
| Oppenheimer | Les Sulewski | $50 | $39.52 | +19.3% | Sep 23, 2026 |
| Leerink Partners | Analyst unavailable | $45 | $36.76 | +7.4% | Sep 9, 2026 |
| UBS | Ashwani Verma | $48 | $36.62 | +14.5% | Sep 4, 2026 |
| Barclays | Analyst unavailable | $42 | $36.48 | +0.2% | Aug 12, 2026 |
| Piper Sandler | David Amsellem | $44 | $31.08 | +5.0% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $40 | $35.86 | -4.6% | May 6, 2026 |
| Piper Sandler | Analyst unavailable | $42 | $35.38 | +0.2% | Apr 30, 2026 |
| UBS | Analyst unavailable | $42 | $35.38 | +0.2% | Apr 30, 2026 |
| Piper Sandler | David Amsellem | $41 | $32.64 | -2.2% | Mar 4, 2026 |
| Barclays | Glen Santangelo | $38 | $33.07 | -9.3% | Jan 30, 2026 |
| Scotiabank | Analyst unavailable | $40 | $32.9 | -4.6% | Jan 29, 2026 |
| Truist Financial | Analyst unavailable | $36 | $32.11 | -14.1% | Jan 7, 2026 |
| Jefferies | Analyst unavailable | $40 | $31 | -4.6% | Jan 6, 2026 |
| Piper Sandler | Analyst unavailable | $40 | $30.35 | -4.6% | Dec 22, 2025 |
| Goldman Sachs | Analyst unavailable | $35 | $30.06 | -16.5% | Dec 18, 2025 |
| Barclays | Analyst unavailable | $35 | $28.33 | -16.5% | Dec 8, 2025 |
| Scotiabank | Analyst unavailable | $35 | $28.41 | -16.5% | Dec 4, 2025 |
| Goldman Sachs | Matt Dellatorre | $28 | $24.4 | -33.2% | Nov 6, 2025 |
| UBS | Ashwani Verma | $28 | $21.2 | -33.2% | Dec 18, 2024 |
| Barclays | Balaji Prasad | $28 | $21.2 | -33.2% | Dec 18, 2024 |
| Barclays | Balaji Prasad | $25 | $18.38 | -40.3% | Oct 23, 2024 |
| Bank of America Securities | Jason Gerberry | $22 | $17.75 | -47.5% | Oct 1, 2024 |
| UBS | Ashwani Verma | $26 | $18.42 | -38.0% | Sep 3, 2024 |
| Piper Sandler | David Amsellem | $23 | $18.62 | -45.1% | Aug 28, 2024 |
| Barclays | Balaji Prasad | $22 | $17.43 | -47.5% | Aug 1, 2024 |
| Argus Research | Jasper Hellweg | $20 | $15.81 | -52.3% | Jul 10, 2024 |
| UBS | Ashwani Verma | $24 | $15.81 | -42.7% | Jul 10, 2024 |
| Barclays | Balaji Prasad | $21 | $16.63 | -49.9% | Jun 5, 2024 |
| Barclays | Balaji Prasad | $20 | $16.76 | -52.3% | May 23, 2024 |
| Piper Sandler | David Amsellem | $20 | $16.9 | -52.3% | May 13, 2024 |
| Piper Sandler | David Amsellem | $19 | $12.01 | -54.7% | Feb 12, 2024 |
| Jefferies | Glen Santangelo | $14 | $11.99 | -66.6% | Jan 23, 2024 |
| J.P. Morgan | Analyst unavailable | $10 | $9.48 | -76.1% | Nov 14, 2022 |
| UBS | Ashwani Verma | $10 | $7.89 | -76.1% | Jun 13, 2022 |
| Piper Sandler | Analyst unavailable | $7 | $8.6 | -83.3% | May 4, 2022 |
| Barclays | Balaji Prasad | $13 | $9.79 | -69.0% | Apr 20, 2022 |
Track every rating change on TEVA the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTeva Pharmaceutical Industries Limited functions as a global pharmaceutical enterprise, involved in the conception, manufacturing, marketing, and provision of a broad spectrum of generic, specialty, and biopharmaceutical products throughout North America, Europe, and various international markets. The company's diverse product range includes sterile items, hormones, potent drugs, and cytotoxic agents, available in numerous forms like tablets, capsules, injectable solutions, inhalable preparations, liquids, transdermal patches, topical ointments, and creams. Additionally, Teva develops, produces, and sells active pharmaceutical ingredients (APIs). The firm prioritizes several key therapeutic domains: central nervous system disorders, pain management, respiratory ailments, and oncology.…
Historical context
All TEVA earningsHealthcare peers this season
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|---|---|---|---|---|
| PHG Koninklijke Philips N.V. | FY2026 Q3 · Calendar Q4 2026 | +24.3% | +3.2% | Philips Q3: Orders Rise and Margin Expands; Full-Year Outlook Unchanged |
| BNTX BioNTech SE | FY2026 Q3 · Calendar Q4 2026 | — | -0.7% | BioNTech raises 2026 revenue outlook as oncology pipeline advances |
| PFE Pfizer Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -2.0% | Pfizer raises 2026 guidance as launched portfolio growth offsets longer-term pressures |
| FMS Fresenius Medical Care AG & Co. KGaA | FY2026 Q3 · Calendar Q4 2026 | — | -3.6% | Fresenius Medical Care cuts 2026 outlook as cost and reimbursement pressure persist |
| RVTY Revvity, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +10.8% | Revvity Raises FY2026 Outlook After 7% Q3 Organic Growth |
| WAT Waters Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +3.8% | Waters Raises FY2026 Revenue Outlook as Organic Growth Accelerates |
Latest beats and misses
Who reports nextBeat on EPS
- KDPFY2026 Q3 · November 3, 2026+6.8% EPS-5.6% move
- APTVFY2026 Q3 · November 3, 2026+6.8% EPS-6.5% move
- PHGFY2026 Q3 · November 3, 2026+24.3% EPS+3.2% move
- FANGFY2026 Q3 · November 2, 2026+2.4% EPS-3.7% move
- RRXFY2026 Q3 · November 3, 2026+41.1% EPS+11.8% move
- UDRFY2026 Q3 · November 2, 2026+340.8% EPS+0.1% move
Get the TEVA recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-29T20:10:02.573836+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-11-04T03:10:49.349113+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T03:10:49.346399+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.