Teva Shares Jump 22% After Swinging To Profit In Q3

(RTTNews) - Teva Pharmaceutical Industries Limited (TEVA) shares surged 24.91 percent to $21.75 on Wednesday after the company reported a return to profitability for the third quarter.

The pharmaceutical company reported a net profit of $433 million, or $0.37 per share, as opposed to a net loss of $437 million, or $0.39 per share, during the same time last year. Net revenue increased 1 percent in local currency terms and 3 percent to $4.48 billion from $4.33 billion the previous year.

Throughout the session, the stock fluctuated between $22.71 and $24.90 on the New York Stock Exchange, having opened at $23.06. In contrast to its previous close of $20.46, it was last seen at $24.67. About 31.8 million shares were traded, more than three times the typical 10 million.

Over the previous 52 weeks, Teva's stock has fluctuated between $12.47 and $24.90.