What's Going On With Johnson and Johnson Shares Friday?

Johnson and Johnson JNJ shares are trending on Friday. In the last week, the pharmaceutical company announced positive results from two clinical trials and authorization from Health Canada for RYBREVANT in combination with platinum-based chemotherapy.

The Details: The first of the two clinical trials is a Phase 3 study regarding the use of nipocalimab for patients with generalized myasthenia gravis.

In the first trial, patients who received nipocalimab alongside standard treatment over the course of 24 weeks achieved superiority over the placebo group in activities of daily living. The study achieved its primary endpoint as well as secondary endpoints, such as improvement in strength and function of certain muscle groups.

The second study was the Phase 3 CARTITUDE-4 study evaluating CARVYKTI against standard therapies for patients with relapsed or lenalidomide-refractory multiple myeloma after one prior line of therapy. The interim analysis demonstrated a notable and statistically significant enhancement in overall survival for patients who received CARVYKTI versus standard treatments.

“CARVYKTI, a one-time infusion, is now the first cell therapy to significantly improve overall survival versus standard of care for patients with myeloma as early as second line,” said Jordan Schecter, M.D., vice president, disease area leader, multiple myeloma, Johnson & Johnson Innovative Medicine.

On Wednesday, Health Canada authorized the use of RYBREVANT in combination with platinum-based chemotherapy for the treatment of certain non-small cell lung cancers.

Analyst Changes: Over the past week, one analyst has issued a price target adjustment.

• On Monday, Cantor Fitzgerald analyst Louise Chen reiterated Johnson & Johnson with a Overweight and maintained $215 price target.

Related Link: Activist Investor Takes Stake In Sports Medicine Player Smith & Nephew, Shares Surge

JNJ Price Action: At the time of writing, Johnson and Johnson stock is trading .57% lower at $144.85, according to data from Benzinga Pro.

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