Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Teva Pharmaceutical Sp Adr / Equity Bottom-Up

<ul><li>Teva Pharmaceuticals has taken another step in its broader shift toward innovative medicines by bidding for certain neuroscience assets of BioXcel Therapeutics through a court-supervised Chapter 11 sale process.</li><li>Importantly, Teva is not proposing to acquire BioXcel Therapeutics in its entirety; it is acting as the stalking-horse bidder for assets that include IGALMI and BXCL501, BioXcel’s dexmedetomidine sublingual film.</li><li>Teva would pay $57.5 million upfront and potentially another $67.5 million through regulatory, timing, and sales-related contingent payments if it ultimately wins the auction.</li></ul>

Teva Pharmaceuticals has taken another step in its broader shift toward innovative medicines by bidding for certain neuroscience assets of BioXcel Therapeutics through a court-supervised Chapter 11 sale process.Importantly, Teva is not proposing to acquire BioXcel Therapeutics in its entirety; it is acting as the stalking-horse bidder for assets that include IGALMI and BXCL501, BioXcel’s dexmedetomidine sublingual film.Teva would pay $57.5 million upfront and potentially another $67.5 million through regulatory, timing, and sales-related contingent payments if it ultimately wins the auction.

Teva Pharmaceuticals Takeover Strategy Targets A High-Potential Neuroscience Asset!

<ul><li>President Donald Trump’s proposed 100% tariff on imported generic drugs delivered an immediate shock to Teva Pharmaceutical Industries, sending its shares down nearly 4% as investors considered the consequences for one of the world’s largest generic-medicine manufacturers.</li><li>The concern is understandable: generic drugs operate on thin margins, and sharply higher import costs could be difficult to absorb without increasing prices or relocating production.</li><li>Yet Wall Street’s response has been notably less pessimistic.</li></ul>

President Donald Trump’s proposed 100% tariff on imported generic drugs delivered an immediate shock to Teva Pharmaceutical Industries, sending its shares down nearly 4% as investors considered the consequences for one of the world’s largest generic-medicine manufacturers.The concern is understandable: generic drugs operate on thin margins, and sharply higher import costs could be difficult to absorb without increasing prices or relocating production.Yet Wall Street’s response has been notably less pessimistic.

Teva Just Got Hit By Trump—So Why Does Wall Street See 38% Upside?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Large-Cap indexes (S&amp;P 500, Nasdaq 100, and DJI) remain bullish, all hitting new all-time highs last week while continuing to find short-term support at their respective 20-day MAs.</li>
<li>Mid-Caps (S&amp;P 400, Russell Mid-Cap) starting another leg higher following breakouts from 2-month consolidations. Small-caps (S&amp;P 600, Russell 2000) are likely to follow in the footsteps of large- and mid-caps.</li>
<li>Small-Cap indexes have been consolidating for 2.5 months following the historic rally from late-October to late-December 2023, a healthy sign. We expect they are gearing-up for another similar move higher.</li>
</ul>


Large-Cap indexes (S&amp;P 500, Nasdaq 100, and DJI) remain bullish, all hitting new all-time highs last week while continuing to find short-term support at their respective 20-day MAs.
Mid-Caps (S&amp;P 400, Russell Mid-Cap) starting another leg higher following breakouts from 2-month consolidations. Small-caps (S&amp;P 600, Russell 2000) are likely to follow in the footsteps of large- and mid-caps.
Small-Cap indexes have been consolidating for 2.5 months following the historic rally from late-October to late-December 2023, a healthy sign. We expect they are gearing-up for another similar move higher.


U.S. Dollar Rolling Over; Small-Caps to Follow Mid- And Large-Caps to New Highs; Buys in Cons. Disc.

<ul><li>Teva Pharmaceutical Industries Limited reported first-quarter 2026 results reflecting ongoing progress in its strategic transformation from a primarily generics-focused company to a diversified biopharmaceutical firm.</li><li>The company continues to advance its “Pivot to Growth” strategy, which emphasizes four core pillars: growth through innovative products, increased innovation, sustaining generics leadership with an emerging biosimilar portfolio, and focusing the business on high-return areas.</li><li>First-quarter revenues amounted to approximately $4 billion, representing a 1% decline in local currency but a 7% increase when excluding the divestment of its Japan business and the loss of generic REVLIMID revenues, which was expected.</li></ul>

Teva Pharmaceutical Industries Limited reported first-quarter 2026 results reflecting ongoing progress in its strategic transformation from a primarily generics-focused company to a diversified biopharmaceutical firm.The company continues to advance its “Pivot to Growth” strategy, which emphasizes four core pillars: growth through innovative products, increased innovation, sustaining generics leadership with an emerging biosimilar portfolio, and focusing the business on high-return areas.First-quarter revenues amounted to approximately $4 billion, representing a 1% decline in local currency but a 7% increase when excluding the divestment of its Japan business and the loss of generic REVLIMID revenues, which was expected.

Teva Pharmaceutical: Initiation Of Coverage

Teva Pharmaceutical Industries / Equity Bottom-Up

<ul>
<li>Teva Pharmaceutical Industries has moved deeper into innovative neuroscience with its planned acquisition of Emalex Biosciences, a deal centered on ecopipam, an NDA-ready, first-in-class dopamine D1 receptor antagonist for pediatric Tourette syndrome.</li>
<li>The transaction includes $700 million in upfront cash, up to $200 million in commercial milestones, and royalties tied to future sales, subject to approval.</li>
<li>Ecopipam has already produced positive Phase 3 data, carries FDA Orphan Drug and Fast Track designations, and is expected to be submitted for approval in the second half of 2026.</li>
</ul>


Teva Pharmaceutical Industries has moved deeper into innovative neuroscience with its planned acquisition of Emalex Biosciences, a deal centered on ecopipam, an NDA-ready, first-in-class dopamine D1 receptor antagonist for pediatric Tourette syndrome.
The transaction includes $700 million in upfront cash, up to $200 million in commercial milestones, and royalties tied to future sales, subject to approval.
Ecopipam has already produced positive Phase 3 data, carries FDA Orphan Drug and Fast Track designations, and is expected to be submitted for approval in the second half of 2026.


Teva Pharma's $700 Million Emalex Buyout Signals The Pivot To Growth Is Real!

Israel

Teva Pharmaceutical Industries Ltd., is a global pharmaceutical company. The Company develops, manufactures, and markets generic and branded human pharmaceuticals as well as active pharmaceutical ingredients.

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Teva Pharmaceutical Sp Adr (TEVA US)

Teva Pharmaceuticals Takeover Strategy Targets A High-Potential Neuroscience Asset!

Teva Pharmaceuticals has taken another step in its broader shift toward innovative medicines by bidding for certain neuroscience assets of BioXcel...

Baptista Research

Teva Just Got Hit By Trump—So Why Does Wall Street See 38% Upside?

President Donald Trump’s proposed 100% tariff on imported generic drugs delivered an immediate shock to Teva Pharmaceutical Industries, sending...

Baptista Research

U.S. Dollar Rolling Over; Small-Caps to Follow Mid- And Large-Caps to New Highs; Buys in Cons. Disc.

U.S. Dollar $DXY Rolling Over; 10- and 30-Yr Treasury Yields Hit Major Resistance; Small-Caps to Follow Mid- and Large-Caps to New Highs $IWM $RTY...

Vermilion Research

Teva Pharmaceutical: Initiation Of Coverage

Teva Pharmaceutical Industries Limited reported first-quarter 2026 results reflecting ongoing progress in its strategic transformation from a...

Baptista Research

Teva Pharma's $700 Million Emalex Buyout Signals The Pivot To Growth Is Real!

The transaction includes $700 million in upfront cash, up to $200 million in commercial milestones, and royalties tied to future sales, subject to...

Baptista Research

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