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Investing.com - Guggenheim has reiterated its Buy rating and $206.00 price target on Johnson & Johnson (NYSE:JNJ) following positive Phase 3 trial results for its cancer treatment.
The pharmaceutical giant announced successful topline results from its MajesTEC-3 trial, which met both the primary endpoint of progression-free survival and the secondary overall survival endpoint in patients with relapsed/refractory multiple myeloma.
The trial compared Tecvayli plus Darzalex Faspro to investigator’s choice of Darzalex Faspro with either pomalidomide/dexamethasone or bortezomib/dexamethasone in patients who received 1-3 prior lines of therapy.
Guggenheim expects these results to drive further adoption of Tecvayli, which has shown modest sales to date with $549 million in 2024 and $494 million in the first nine months of 2025 under its current accelerated approval for patients who have received at least four prior lines of therapy.
The results align with Johnson & Johnson’s strategy of combining bispecifics like Tecvayli with Darzalex, strengthening the company’s position in the multiple myeloma treatment market.
In other recent news, Johnson & Johnson’s third-quarter 2025 earnings results have garnered significant attention from analysts. The company reported better-than-expected sales and earnings per share, maintaining its 2025 EPS guidance. This performance has led to several analyst firms adjusting their price targets and ratings for the healthcare giant. Wolfe Research raised its price target to $225, citing strong commercial execution and expected margin expansion. Similarly, Raymond James increased its target to $209, highlighting the company’s robust business outlook despite challenges such as the loss of exclusivity for Stelara. Stifel also raised its price target to $190, acknowledging the company’s above-consensus sales and earnings performance. RBC Capital maintained its Outperform rating, noting a 4.4% year-over-year operational sales growth, driven by MedTech’s 5.7% growth. Lastly, Leerink Partners increased its price target to $201, reflecting confidence in Johnson & Johnson’s future earnings potential.
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