Stock Update: Johnson & Johnson (NYSE:JNJ) – J&J, Pharmacyclics drug gets U.S. approval for leukemia

Johnson & Johnson (NYSE:JNJ) [Reuters] – U.S. health regulators on Wednesday approved the Johnson & Johnson and Pharmacyclics Inc cancer drug Imbruvica to treat chronic lymphocytic leukemia, a slowly progressing form of blood cancer. The Food and Drug Administration decision marks the second approval recently for the medicine, known chemically as ibrutinib. In November, the drug won U.S. approval to treat a rare and aggressive form of non-Hodgkin lymphoma called mantle cell lymphoma in patients who have received prior treatment with at least one other therapy. The latest approval is also for so-called second line therapy after at least one prior treatment fails or stops working, the FDA said.
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Johnson & Johnson (JNJ), currently valued at $260.29B, began trading this morning at $92.95.
 
Shares have traded today between $91.95 and $92.99 per share and has traded between $75.37 and $95.99 over the past 12 months.
 
JNJ shares are currently priced at 15.44x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.35x forward p/e ratio.
 
And for income investors, the company pays shareholders $2.64 per share annually in dividends, yielding 2.90%.
 
Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.48 per share, which would be $0.04 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $5.83, which would be a $0.31 improvement when compared to the last year’s annual results.
 
The quarterly earnings estimate is predicated on a consensus revenue forecast of $18.00 Billion. If reported, that would be a 2.86% increase over the year-ago quarter.
 
In terms of ratings, Barclays downgraded JNJ from Overweight to Equal Weight (Jan 10, 2014). Previously, RBC Capital Mkts upgraded JNJ from Sector Perform to Outperform.
 
The average price target for JNJ shares is $101.02, which is 8.68% above where the stock opened this morning.
 
Johnson & Johnson (NYSE:JNJ), together with its subsidiaries, engages in the research and development, manufacture and sale of various products in the health care field worldwide. The company operates in three segments: Consumer, Pharmaceutical and Medical Devices and Diagnostics.
 
Tag Helper ~ Stock Code: JNJ | Common Company name: Johnson & Johnson | Full Company name: Johnson & Johnson (NYSE:JNJ) .

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