Teva Pharmaceuticals (NYSE: TEVA) is set to release its fourth-quarter and full-year 2024 earnings today before the market opens. The Israeli drugmaker has been one of the year’s biggest comeback stories, with its stock surging over 100%—a rally driven by robust earnings growth, strategic debt reduction, and renewed confidence in its innovative drug pipeline.

With shares back in the spotlight, investors will be watching closely to see whether Teva can maintain its positive trajectory and deliver strong forward guidance for 2025.

What Analysts Expect

Wall Street analysts forecast Q4 revenue of $4.12 billion and earnings per share (EPS) of $0.70. For the full year, expectations stand at $16.42 billion in revenue and $2.47 EPS—in line with Teva’s previous guidance of $16.1-$16.5 billion in revenue and $2.40-$2.50 EPS.

While the Q4 numbers will provide insights into Teva’s recent performance, the real focus will be on management’s outlook for 2025. Analysts currently project $17.09 billion in revenue and $2.78 billion in net profit for the upcoming year.

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During a recent Bizportal Investment Conference, Teva CFO Eli Kalif offered an optimistic outlook, stating that the company is “on track across all divisions,” including its innovative drugs Austedo, Ajovy, and Uzedy, as well as its generics and biosimilars business, which continues to expand with 18 products in development.

2024: A Transformational Year for Teva

This past year marked a major turning point for Teva as the company successfully executed a two-pronged strategy—aggressively reducing debt while shifting its focus toward high-margin proprietary drugs.

Teva has now delivered seven consecutive quarters of revenue growth, underscoring the success of its transition away from reliance on generics. The company also put the long-standing opioid litigation behind it, finalizing a $4.3 billion settlement related to past acquisitions.

One of the biggest catalysts for Teva’s stock in 2024 was the announcement of strong clinical trial results for its joint venture with Sanofi (NASDAQ: SNY), sending shares soaring 20% in a single day—marking their first return above the $20 level in over six years. The company previously estimated the total addressable market for the treatment at $28 billion, covering 10 million patients worldwide.

While the trial remains in Phase 2, a successful Phase 3 outcome could significantly strengthen Teva’s foothold in the high-margin branded drug space—an area that commands higher valuations compared to generics.

On its most recent investor call, Teva executives emphasized that the treatment “outperforms competitors” and highlighted potential milestone payments of up to $1 billion—including an initial $600 million upon hitting key benchmarks and an additional $400 million upon launch. However, management noted that these payments will not be factored into 2025 guidance.

Wall Street Remains Bullish

Despite Teva’s triple-digit rally in 2024, analysts see further upside.

Last week, UBS initiated a Buy rating on the stock with a $30 price target, reflecting 39% upside from current levels. The firm expects Teva’s 2025 revenue to exceed current consensus, forecasting $17.17 billion in sales and $5.08 billion in EBITDA. UBS analysts stated that “Teva is poised to attract long-term investors following a period of significant risk reduction.”

Similarly, Bank of America recently named Teva one of its top five pharma picks, assigning a $26 price target—implying 21% upside. BofA analysts highlighted Teva’s successful monetization of key assets, particularly Austedo, while also pointing to its late-stage R&D pipeline, including long-acting injectables for schizophrenia and Duvakitug, which is currently undergoing clinical trials for ulcerative colitis and Crohn’s disease.

Looking ahead, analysts identify three key catalysts for Teva’s continued momentum: Quarterly Earnings Performance – Expectations for continued single-digit sales growth in 2025. Deleveraging & Strategic Portfolio Management – Potential divestment of raw material divisions to further reduce debt. Sanofi Partnership & R&D Pipeline – Upcoming Phase 3 data readouts for Duvakitug could provide another strong tailwind for the stock.

Bottom Line: Can Teva Keep Delivering?

After a blockbuster year, Teva enters 2025 with stronger fundamentals, a healthier balance sheet, and a growing presence in high-margin therapeutics.

With major catalysts ahead—including earnings, pipeline updates, and ongoing debt reduction—investors will be watching closely to see if Teva can sustain its upward trajectory and finally reclaim its place among leading global pharmaceutical companies.