Drugmaker Johnson & Johnson (JNJ) announced that its single-dose COVID-19 vaccine has shown success against the Delta variant and other existing SARS-CoV-2 viral variants.
The company has submitted a preprint to bioRxiv that shows the results from a sample study with eight participants. It revealed that the neutralizing antibody activity generated by Johnson & Johnson’s vaccine against the Delta variant was higher than that observed for the Beta variant in South Africa.
The company said that the single-shot vaccine was 85% effective against severe or critical disease and demonstrated protection against hospitalization and death.
Furthermore, as per the data submitted by Dan Barouch, M.D., Ph.D., of Beth Israel Deaconess Medical Center, to bioRxiv, from a sub-study of the Johnson & Johnson Phase 1/2a COVID-19 vaccine study, disclosed that the vaccine created immune responses that lasted through at least eight months. (See Johnson & Johnson stock charts on TipRanks)
Following the opioid-related claims settlement, in a note to investors on June 28, Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on the stock with a $200 price target. This implies 20.5% upside potential.
Fitzgerald is of the opinion that the settlement will help the company clear an overhang on its shares and increase focus on commercial products and its pipeline.
The stock has a Strong Buy consensus rating based on 7 unanimous Buys. The average Johnson & Johnson price target of $192.80 implies 16.2% upside potential from current levels.
According to TipRanks’ Smart Score system, Johnson & Johnson gets a 9 out of 10, which indicates that the stock has the potential to outperform market expectations.
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