Shares of Johnson & Johnson (JNJ) rose 1.5% on Friday after Janssen, a JNJ company, disclosed positive data from the Phase 3b COSMOS trial of TREMFYA.
TREMFYA is the first-of-its-kind selective interleukin (IL)-23 inhibitor therapy, approved in the U.S. for moderate to severe plaque psoriasis and active psoriatic arthritis (PsA ) irrespective of prior tumor necrosis factor inhibition (TNFi) exposure. The trial was designed to evaluate the efficacy and safety of TREMFYA in 285 patients with active PsA and intolerance to TNFi therapy.
The data demonstrated that the COSMOS study met its primary endpoint, with a significantly higher proportion of TREMFYA-treated patients achieving ACR20 response versus the placebo at week 24. Furthermore, response rates continued to improve during the first year, with 57.7% of TREMFYA patients achieving ACR20 at week 48 with a similar safety profile at week 56. (See Johnson & Johnson stock charts on TipRanks)
Official Comments
The Senior Director, Strategic Lead, Rheumatology Therapeutic Area at Janssen Scientific Affairs, Soumya D. Chakravarty, said, “Results from this study provide further evidence that TREMFYA is effective in treating patients with various manifestations of active psoriatic arthritis even when TNF inhibitor treatment has failed.”
“Active psoriatic arthritis is a chronic and often debilitating disease, so patients need treatment options with durable efficacy and an established safety profile. It is our goal to advance therapeutic options for people living with active psoriatic arthritis to enhance their chances to live life with reduced symptoms of active PsA,” Chakravarty added.
Wall Street’s Take
On November 29, Credit Suisse analyst Matt Miksic reiterated a Buy rating and a price target of $200 (25.49% upside potential) on the stock.
Based on his updated intra-quarter analysis of sales and scrips at Johnson & Johnson, Miksic increased his Q4 estimates to $430 million for the company’s U.S. pharmaceuticals business.
Consensus among analysts is a Strong Buy based on 5 Buys versus 1 Hold. The average Johnson & Johnson price target of $195 implies 22.35% upside potential from current levels. Shares have gained 7% over the past year.
Smart Score
Johnson & Johnson scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. (See Top Smart Score Stocks on TipRanks)
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