Piper Sandler analyst David Amsellem reiterated the Overweight rating on Teva Pharmaceutical Industries Limited (NYSE:TEVA) with a price forecast of $30.
Amsellem writes that he hosted a call with a top gastroenterologist who treats many ulcerative colitis and Crohn’s disease patients. The doctor specializes in managing treatment-experienced and refractory cases at a major referral center.
From the call, the analyst notes that feedback on Teva's/Sanofi's (NASDAQ:SNY) anti-TL1A antagonist duvakitug, along with the broader anti-TL1A class, suggests these agents could play a significant role in treating both ulcerative colitis and Crohn’s disease, which is supported by competitive data.
Amsellem highlights that according to the featured expert, biomarkers are crucial, and they are particularly interested in studies/data stratified by biomarkers.
The analyst will closely follow what Teva shares on this at the upcoming ECCO meeting.
Both Merck & Company, Inc. and Roche Holding Ltd are also stratifying their anti-TL1A studies by biomarkers.
The expert considers that biomarkers could greatly benefit the broader inflammatory bowel disease (IBD) field if they are easy to assess and help predict clinical response.
While Teva/Sanofi’s all-comers Phase III program for duvakitug is commercially reasonable, the goal is to address a wide ulcerative colitis and Crohn’s disease patient audience.
Price Action: TEVA shares are trading lower by 1.47% to $21.46 at last check Tuesday.
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