What To Expect When Johnson & Johnson Reports Q3 Earnings Next Week?
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) has discontinued its Phase 3 SunRISe-2 trial for TAR-200 in combination with cetrelimab for muscle-invasive urothelial carcinoma due to lack of superiority. Despite this, JNJ remains confident in the TARIS platform's potential. The company is set to release its Q3 2024 earnings on October 15, with analysts expecting an EPS of $2.20 and revenue of $22.13 billion. Goldman Sachs has reiterated a Neutral rating, slightly increasing the price target to $162.
October 08, 2024 | 6:00 pm
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Johnson & Johnson discontinued its SunRISe-2 trial for TAR-200, but remains optimistic about the TARIS platform. The company is set to report Q3 earnings with expected EPS of $2.20. Goldman Sachs maintains a Neutral rating, raising the price target to $162.
The discontinuation of the SunRISe-2 trial may have a neutral short-term impact as JNJ remains confident in its TARIS platform. The upcoming Q3 earnings report and Goldman Sachs' price target increase suggest stability. The market may react more to the earnings report than the trial discontinuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100