Now that we’re in largely a post-COVID-19 world—regardless of what some might think—it’s clear that those who made a good revenue stream from the disease must find alternate routes. Johnson & Johnson (NYSE:JNJ) already had quite a few, and now it might have one more, thanks to a new Food and Drug Administration (FDA) approval. That didn’t seem to matter much to shareholders, though, as Johnson & Johnson was down fractionally in Wednesday afternoon’s trading.
Johnson & Johnson might have a new treatment for a serious winter ailment: frostbite. The firm’s Actelion Pharmaceuticals unit landed FDA approval for iloprost, otherwise known as Aurlumyn. Aurlumyn was originally approved as a treatment for pulmonary arterial hypertension (high blood pressure in the lungs) but has also been shown to treat severe frostbite and potentially prevent the amputation of fingers or toes accordingly.
Expansions, But Concerns Too
Being able to treat frostbite at a glance is certainly welcome, at least for a few months out of the year in most places. But aside from that, Johnson & Johnson pulled out plans to step up its operations in Puerto Rico. Specifically, its Ethicon lineup would get roughly an extra 100,000 square feet of manufacturing capacity, as multiple Ethicon products are seeing enhanced consumer demand. Despite this, there’s a more disturbing report afoot, as Executive Vice President Jennifer Taubert was spotted selling 59,397 shares of stock recently, generating just over $9.2 million in proceeds.
Is JNJ Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on JNJ stock based on eight Buys and seven Holds assigned in the past three months, as indicated by the graphic below. After a 0.59% rally in its share price over the past year, the average JNJ price target of $177.67 per share implies 14.08% upside potential.
