Guggenheim Reiterates a Hold on Johnson & Johnson (JNJ)

Johnson & Johnson (NYSE:JNJ) is one of the best drug stocks to buy right now. On September 10, Guggenheim analyst Vamil Divan reiterated a Hold rating on Johnson & Johnson (NYSE:JNJ) and set a price target of $167.00.

The rating update followed Johnson & Johnson’s (NYSE:JNJ) announcement on September 9 that the U.S. Food and Drug Administration (FDA) approved INLEXZO (gemcitabine intravesical system).

INLEXZO is an innovative, “potentially practice-changing approach” for the treatment of certain bladder cancer types, “addressing the need for additional options following unsuccessful BCG therapy and for patients refusing or ineligible for bladder removal surgery (radical cystectomy).”

Management further reported that INLEXZO, previously referred to as TAR-200, is indicated for the “treatment of adult patients with Bacillus Calmette-Guérin-unresponsive, non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS), with or without papillary tumors.”

Designed for patients seeking bladder preservation, INLEXZO is the first and only intravesical drug-releasing system that offers extended local delivery of a cancer medication into the bladder.

Johnson & Johnson (NYSE:JNJ) develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech.

The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.

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Disclosure: None. This article is originally published at Insider Monkey.