Johnson & Johnson (NYSE:JNJ) is one of The most profitable blue-chip stocks to invest in now. On March 11, Citi raised its price target on Johnson & Johnson (NYSE:JNJ) to $274 from $250, while maintaining a Buy rating on the stock. The company told investors in a research note that it adjusted price targets on the medical technology group after the release of fiscal fourth-quarter reports, adding that despite recent volatility, the sector’s fundamentals remain “healthy.” Citi also said its best options are iRhythm and Medtronic.
In a separate development, Johnson & Johnson (NYSE:JNJ) announced on March 10 the submission of a Type II variation application to the European Medicines Agency (EMA) seeking approval for an extension of the indication for TECVAYLI® as monotherapy to treat adult patients with relapsed/refractory multiple myeloma who have received at least one prior therapy.
Johnson & Johnson (NYSE:JNJ) further reported that data from the Phase 3 MajesTEC-9 trial support the submission, which evaluates the safety and efficacy of teclistamab compared to standard treatment of pomalidomide, bortezomib and dexamethasone or carfilzomib and dexamethasone in 614 patients with RRMM.
Johnson & Johnson (NYSE:JNJ) develops, manufactures and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The Innovative Medicine segment focuses on various therapeutic areas, including oncology, infectious diseases, immunology, cardiovascular and metabolic diseases, among others. The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery and visual fields.
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