The stock of Teva Pharmaceutical Industries Limited (NYSE:TEVA) is now priced at $9.87 and the shares are 0.27 points up or 2.81% higher compared to its previous closing price of $9.6. The stock had 7.825 million contracts set over the past session. TEVA shares’ daily volume is compared to its average trading volume at 9.402 million shares. However, it has a float of 1080 million and although its performance was 2.49% over the week, it’s one to watch. Analysts have given the TEVA stock a yearly average price target of $12.19 per share. It means the stock’s upside potential is 23.51% with the TEVA share price recently placing at $9.42 to $9.89. However, some brokerage firms have priced the stock below the average, including one that has called $8.

The shorts are running away from the Teva Pharmaceutical Industries Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TEVA shares have declined. Short interest in the stock represents just 2.22% of its float, but the volume has dropped by 0.

In the last trading session, Teva Pharmaceutical Industries Limited (NYSE:TEVA) raised by $0.24 over the week and lost -$2.32 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.76. The stock recorded its established 52-week high on 02/12/20.

Since 03/18/20, the stock has traded to a low of $6.25 at 57.92%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Teva Pharmaceutical Industries Limited’s two-week RSI is 37.37. This suggests that the stock is neutral at the moment and that TEVA shares’ price movement remains stable. The stochastic readings are equally revealing at 21.15% meaning the TEVA share price is currently in overbought territory.

The technical chart shows that the TEVA stock will likely settle at between $10.03 and $10.2 per share. However, if the stock dips below $9.56, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.26.

Currently, the stock is trading in the red of MACD, with a reading of -0.1. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Barclays raised their recommendation for TEVA from Underweight to Equal Weight in August 06 review while maintain their target price of $10 to $13. Goldman analysts see the stock as a Neutral with a target price of $12 in a flash note released to investors on July 27 resuming covering the stock. SunTrust seeing the improvements upgraded the stock from Hold to Buy on June 01.

The average rating for the TEVA equity is 2.88 and is currently gathering a bullish momentum. Of 23 analysts tracking Teva Pharmaceutical Industries Limited polled by Reuters, 16 rated TEVA as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.

Elsewhere, the TEVA stock price is 3.75X ahead of its 12-month Consensus earnings per share estimates.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Teva Pharmaceutical Industries Limited (NYSE:TEVA) will decrease by about -70.05%, which will see them reach $4090 million. The company’s full-year revenues are, however, expected to diminish by about -1.01%, down from $16900 million to $16700 million. TEVA’s expected adjusted earnings should surge almost 0% to end up at $0.58 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 4.58% to record $2.51/share.