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Monday, June 5, 2023

FDA Updates JNJ COVID-19 vaccine’s warning label — Report

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According to a report by CNA, the U.S. Food and Drug Administration (FDA) has issued updated warning labels for Johnson & Johnson’s (JNJ) COVID-19 vaccine and included information about “increased risk” of a rare neurological disorder, Guillain-Barre Syndrome (GBS).

The warning states that the symptoms occur within 42 days of taking the vaccine, and “the chance of having this occur is very low.” Johnson’s subsidiary Janssen Pharmaceuticals was granted an emergency use authorization for the vaccine in February.

FDA officials said that out of 12.5 million doses that Janssen administered, there have been 100 preliminary reports of GBS, and 95 people got serious and required hospitalization. One death was also reported.

The regulator said it “continues to find if the known and potential benefits clearly outweigh the known and potential risks.” (See Johnson stock chart on TipRanks)

Cantor Fitzgerald analyst Louise Chen recently reiterated a Buy rating on the stock with a price target of $200 (18.15% upside potential). In a research note to investors, the analyst said that the recently announced “positive” data for Johnson’s COVID-19 vaccine revealed that the vaccine showed “strong” neutralizing antibody activity against the Delta variant.

Overall, the stock has a Strong Buy consensus based on 6 Buys. The average Johnson & Johnson price target of $190.75 implies 12.7% upside potential. The company’s shares have gained 14.4% over the past year.

According to TipRanks’ Smart Score rating system, the company scores an 8 out of 10, suggesting that the stock is likely to outperform market averages.

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The post FDA Updates JNJ COVID-19 vaccine’s warning label — Report appeared first on TipRanks Financial Blog.

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