iShares MSCI Israel ETF Buoyed by Teva’s 58% Remission Rates and Target Raises
Teva Pharmaceutical, a 9.59% holding in iShares MSCI Israel ETF, reported 58% and 47% ulcerative colitis remissions and 55% and 41% Crohn’s endoscopic responses in a 44-week RELIEVE UCCD extension study. Shares rose 2.85% as analysts lifted targets to $45, $38 and $40, boosting ETF outlook.
1. Positive Trial Results
Teva and Sanofi’s RELIEVE UCCD extension study evaluated duvakitug in 130 patients over 44 weeks, showing 58% and 47% ulcerative colitis clinical remissions at two dose levels and 55% and 41% Crohn’s endoscopic responses, with consistent benefits across secondary endpoints and good tolerability.
2. Analyst Upgrades Drive Optimism
Following the trial release, Teva shares climbed 2.85%, as Goldman Sachs, Barclays and Scotiabank increased their price targets to $45, $38 and $40 respectively, reflecting heightened confidence in Teva’s commercial outlook.
3. Impact on iShares MSCI Israel ETF
With Teva representing 9.59% of the iShares MSCI Israel ETF, the stock’s positive data and analyst momentum are likely to lift the ETF’s performance, making Teva’s developments a key driver for investors in this Israel-focused fund.