NEW YORK - Shares of Teva Pharmaceutical Industries Ltd. inched up in premarket trading Tuesday, and a Goldman Sachs analyst recommended the stock despite disappointing trial results for Teva's multiple sclerosis drug Copaxone. Teva shares sank 8.5 percent Monday after the company said tests showed a 40-mg dose of Copaxone was no more effective than the original 20-mg version. Early Tuesday, Randall Stanicky added the stock to the Americas Conviction List, saying that relative to its profits, Teva stock is trading near a five-year low. Stanicky kept a price target of $56 per share, implying the stock will rise almost 30 percent from Monday's closing price. He thinks the Parkinson's disease treatment Azilect is more important to Teva stock than Copaxone is, and he expects the company to report full details of a clinical trial...
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