Bernstein Upgrades Takeda Pharmaceutical (TAK) to Outperform

Takeda Pharmaceutical Company Limited (NYSE:TAK) is one of the 10 Stocks to Buy on a Pullback.

On April 8, 2026, Bernstein upgraded Takeda Pharmaceutical Company Limited (NYSE:TAK) to Outperform from Market Perform and raised its price target to ¥6,900 from ¥5,100, citing “bold” cost-cutting measures and a series of upcoming pipeline catalysts that could help de-risk the business.

On April 5, 2026, Denali Therapeutics announced that Takeda had decided to terminate their collaboration to co-develop and commercialize DNL593, an investigational progranulin replacement therapy for frontotemporal dementia. The decision was based on strategic considerations rather than safety or efficacy concerns, with Denali regaining full control of the program and its intellectual property.

Earlier, Axsome Therapeutics entered into an agreement with Takeda to acquire exclusive global rights to TAK-063, a selective phosphodiesterase 10A inhibitor. The asset will be developed for schizophrenia and Tourette syndrome, with Phase 3-enabling activities expected to begin in 2026. Under the deal, Takeda received an upfront payment and remains eligible for milestone payments and royalties tied to future development and commercialization.

Bernstein Upgrades Takeda Pharmaceutical (TAK) to Outperform

Takeda Pharmaceutical Company Limited (NYSE:TAK) is a global biopharmaceutical company focused on developing and commercializing treatments across multiple therapeutic areas.

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