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Johnson & Johnson ($JNJ) Stock Forecast: Down 2.3% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Johnson & Johnson?

JNJ is a stock of Johnson & Johnson, a multinational corporation that specializes in pharmaceuticals, medical devices, and consumer goods. It is one of the largest healthcare companies globally.

Why is Johnson & Johnson going down?

JNJ stock is down 2.3% on Sep 6, 2023 14:01

  • The bearish movement of JNJ stock today can be attributed to the following factors:
  • 1. Market sentiment: The overall market sentiment might be bearish, leading to a decline in JNJ stock along with other stocks.
  • 2. Cidara Therapeutics announcement: The news about Cidara Therapeutics announcing Janssen's election to proceed under its license agreement relating to novel drug-Fc conjugates targeting influenza may have impacted JNJ stock negatively. This announcement could indicate potential competition in the influenza treatment market, affecting investor confidence in JNJ's pharmaceutical division.
  • 3. Idorsia deal with Janssen Biotech: The news of Idorsia reaching a deal with Janssen Biotech, affiliated with Johnson & Johnson, for the return of rights for Aprocitentan might have caused some uncertainty among investors. This deal could have implications for JNJ's future drug development pipeline and potentially affect its revenue prospects.
  • 4. Arm's IPO ambitions: The news of Arm halving its IPO ambitions to $4.87 billion, surpassing the listing of Johnson & Johnson consumer health spinoff Kenvue, could have indirectly impacted JNJ stock. This news might have shifted investor attention away from JNJ, leading to a decline in its stock price.
  • Overall, the bearish movement of JNJ stock today could be influenced by a combination of market sentiment, competition in the influenza treatment market, uncertainty surrounding future drug development, and the diversion of investor attention to other IPOs.

JNJ Price Chart

JNJ News

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News Article Image 7 Retirement Stocks That Every Long-Term Investor Should Own Now

Cidara Therapeutics Announces Janssen’s Election to Proceed Under its License Agreement Relating to Novel Drug-Fc Conjugates Targeting Influenza

Decision follows promising interim efficacy and safety data from ongoing Phase 1 and 2a trials

https://www.globenewswire.com/news-release/2023/09/06/2738348/0/en/Cidara-Therapeutics-Announces-Janssen-s-Election-to-Proceed-Under-its-License-Agreement-Relating-to-Novel-Drug-Fc-Conjugates-Targeting-Influenza.html

News Article Image Cidara Therapeutics Announces Janssen’s Election to Proceed Under its License Agreement Relating to Novel Drug-Fc Conjugates Targeting Influenza

Cidara Therapeutics Announces Janssen''s Election to Proceed Under its License Agreement Relating to Novel Drug-Fc Conjugates Targeting Influenza

Decision follows promising interim efficacy and safety data from ongoing Phase 1 and 2a trials Cidara to receive a $7 million milestone payment and is eligible to receive an additional $685 million in milestones, plus royalties SAN DIEGO, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ: CDTX ), a biotechnology company using its proprietary Cloudbreak ® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, has announced that Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, has delivered to Cidara its Election to Proceed Notice for CD388 (JNJ-0953) which is being developed for the universal prevention of influenza A and B. Responsibility for future development, manufacturing and commercialization activities of CD388 will be assumed by Janssen, which intends to transfer its rights and obligations under the agreement to another entity. "The Election to Proceed notice represents an important accomplishment for CD388, the most advanced Cloudbreak ® DFC program," said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. "The clinical and nonclinical data for CD388 support the potential for a single dose to provide universal protection from seasonal and pandemic influenza strains A and B.

https://www.benzinga.com/pressreleases/23/09/g34273802/cidara-therapeutics-announces-janssens-election-to-proceed-under-its-license-agreement-relating-to

News Article Image Cidara Therapeutics Announces Janssen''s Election to Proceed Under its License Agreement Relating to Novel Drug-Fc Conjugates Targeting Influenza

Idorsia In Deal With JNJ''s Janssen Biotech For Return Of Rights For Aprocitentan; Stock Down

NEW BRUNSWICK (dpa-AFX) - Shares of Idorsia Ltd (IDRSF. OB) were losing around 5 percent after the Swiss biotech agreed with Janssen Biotech Inc., affiliated to Johnson & Johnson, for the return o…

https://www.finanznachrichten.de/nachrichten-2023-09/60039223-idorsia-in-deal-with-jnj-s-janssen-biotech-for-return-of-rights-for-aprocitentan-stock-down-020.htm

News Article Image Idorsia In Deal With JNJ''s Janssen Biotech For Return Of Rights For Aprocitentan; Stock Down

Arm is halving its IPO ambitions to $4.87 billion

Even at the bottom of the share-sale range, the IPO would still be the world’s biggest this year, surpassing the $4.37 billion listing by Johnson & Johnson consumer health spinoff Kenvue.

https://fortune.com/2023/09/06/arm-holdings-half-ipo-ambitions-487-billion-still-world-biggest-2023-softbank/

News Article Image Arm is halving its IPO ambitions to $4.87 billion

Johnson & Johnson Price History

06.08.2023 - JNJ Stock was down 2.3%

  • The bearish movement of JNJ stock today can be attributed to the following factors:
  • 1. Market sentiment: The overall market sentiment might be bearish, leading to a decline in JNJ stock along with other stocks.
  • 2. Cidara Therapeutics announcement: The news about Cidara Therapeutics announcing Janssen's election to proceed under its license agreement relating to novel drug-Fc conjugates targeting influenza may have impacted JNJ stock negatively. This announcement could indicate potential competition in the influenza treatment market, affecting investor confidence in JNJ's pharmaceutical division.
  • 3. Idorsia deal with Janssen Biotech: The news of Idorsia reaching a deal with Janssen Biotech, affiliated with Johnson & Johnson, for the return of rights for Aprocitentan might have caused some uncertainty among investors. This deal could have implications for JNJ's future drug development pipeline and potentially affect its revenue prospects.
  • 4. Arm's IPO ambitions: The news of Arm halving its IPO ambitions to $4.87 billion, surpassing the listing of Johnson & Johnson consumer health spinoff Kenvue, could have indirectly impacted JNJ stock. This news might have shifted investor attention away from JNJ, leading to a decline in its stock price.
  • Overall, the bearish movement of JNJ stock today could be influenced by a combination of market sentiment, competition in the influenza treatment market, uncertainty surrounding future drug development, and the diversion of investor attention to other IPOs.

20.06.2023 - JNJ Stock was up 4.4%

  • The bullish movement in JNJ stock today can be attributed to the following factors:
  • 1. Strong Q2 Earnings: Johnson & Johnson reported better-than-expected Q2 earnings, with adjusted earnings per share of $2.80, beating the consensus of $2.62. Sales also increased by 6.3% to $25.5 billion, surpassing the consensus of $24.63 billion. This positive financial performance likely contributed to the bullish market movement.
  • 2. Positive Jobs Data: The Australian job market showed better-than-expected results, with an addition of 32.6K jobs, surpassing the expected 15.4K. This positive employment data may have had a spillover effect on JNJ stock, as it indicates a strong economy and potential increased demand for healthcare products.
  • 3. Overall Market Sentiment: The broader market sentiment, with the Dow industrial average rising for the 8th consecutive day and the S&P index and Dow industrial average having risen 7 of the last 8 trading days, may have also influenced the bullish movement in JNJ stock.
  • 4. DARZALEX Sales: Genmab reported strong worldwide net trade sales of DARZALEX, a product co-developed with Johnson & Johnson. This positive sales report may have indirectly impacted the market sentiment towards JNJ stock.
  • Overall, the combination of strong earnings, positive jobs data, favorable market sentiment, and positive sales reports contributed to the bullish movement in JNJ stock today.

19.06.2023 - JNJ Stock was down 0.3%

  • JNJ stock experienced a strong bearish movement today.
  • The company was ordered to pay $18.8 million in a talc-related trial, adding to the ongoing litigation surrounding its baby powder.
  • JNJ joined other pharmaceutical companies in taking legal action against the U.S. government's drug pricing negotiation program, which could potentially impact the company's profits.
  • Despite the bearish movement, Wealth Enhancement Advisory Services LLC showed confidence in JNJ's growth potential by increasing its holdings in the company during the first quarter.
  • Overall, the negative legal developments and concerns over potential profit limitations due to the drug pricing negotiation program likely contributed to the bearish movement in JNJ stock today.

26.05.2023 - JNJ Stock was down 1.2%

  • JMG Financial Group Ltd. reduced its position in JNJ by 4.2%, which could have contributed to the bearish movement.
  • Mayflower Financial Advisors LLC increased its stake in JNJ by 7.1%, which could have offset the bearish movement.
  • The news about BlackRock's control over companies, including JNJ, may have caused uncertainty and contributed to the bearish movement.
  • The article about the AI tool that beat out top Wall Street analysts may have also caused investors to question the value of traditional analysis methods and contributed to the bearish movement.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.