Johnson & Johnson (JNJ) slipped 0.18% to $199.22 in afternoon trade on Tuesday, ending six-sessions of gain.
Despite today’s modest loss, shares remain up 3.39% over the past month, and have surged around 38% year to date, significantly outperforming the broader market.
An analyst said the company’s prospects are helped by strong Q3 results and expanding contributions from key therapies, highlighting CARVYKTI’s 83% year-over-year revenue growth and higher full-year guidance.
He also pointed to the company’s push into major depressive disorder through CAPLYTA following its recent FDA approval, noting that “there is a huge market opportunity now on the horizon” as J&J broadens its reach in neuropsychiatric treatments.
The healthcare giant said it will stop its Librexia ACS trial after partner Bristol Myers reported that a related milvexian study is unlikely to meet its main goal. Recently, the drugmaker also agreed to buy Halda Therapeutics for $3.05B to strengthen its solid-tumor pipeline.
In addition, the company reported positive late-stage results for Tremfya in psoriatic arthritis, showing slower disease progression and no new safety concerns.
Looking at Seeking Alpha’s Quant Rating, JNJ a Hold with an average score of 3.4 out of 5, with an A+ in profitability and B+ in momentum, while a C in valuation, C- revisions and F in growth have weighed on the overall grade.
Seeking Alpha analysts are broadly bullish.
Turning to the Wall Street, 13 of 25 analysts rate the stock a Buy or higher, 11 recommend holding, and one advises selling.
Recently, JNJ has declared a quarterly dividend at $1.30 per share, payable December 9 for shareholders on record as of November 25.