Leerink Partners analyst David Risinger has reiterated their bullish stance on JNJ stock, giving a Buy rating on March 11.
David Risinger has given his Buy rating due to a combination of factors surrounding Johnson & Johnson’s recent clinical trial results and market positioning. The company’s oral IL-23 inhibitor, icotrokinra, demonstrated impressive efficacy in the Phase 3 ICONIC-LEAD study for psoriasis, achieving a 40% PASI 100 response at Week 24. This result not only surpasses Stelara’s performance but also approaches that of Skyrizi, a leading competitor, indicating strong potential for market impact.
Additionally, the safety profile of icotrokinra was notably positive, with no significant differences in adverse events compared to the placebo. This clean safety data, combined with the drug’s efficacy, suggests a promising outlook for its adoption in the market. The potential for icotrokinra to expand the IL-23 market and challenge existing oral treatments further supports the optimistic sales projections, reinforcing the Buy rating for JNJ shares.
In another report released on March 11, RBC Capital also maintained a Buy rating on the stock with a $181.00 price target.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JNJ in relation to earlier this year.
Questions or Comments about the article? Write to editor@tipranks.com