On Thursday, the U.S. Food and Drug Administration approved Johnson & Johnson‘s (NYSE:JNJ) Tecvayli in combination with Darzalex Faspro for patients with relapsed or refractory multiple myeloma.
The agency also selected the teclistamab MajesTEC-3 supplemental Biologics License Application to participate in the Commissioner's National Priority Voucher pilot program.
Phase 3 Data
The decision was based on Phase 3 data showing significant improvements in survival. In the MajesTEC-3 study, 83.3% of patients receiving the therapy were alive at three years, indicating durable clinical benefit. Three-year progression-free survival in the control arm was 30%.
Tecvayli was first approved in 2022 for heavily pretreated multiple myeloma patients and received an expanded label in 2024 allowing reduced dosing frequency for those maintaining a complete response for at least six months.
The latest approval expands treatment options for patients with blood cancer.
Johnson & Johnson Technical Analysis
Currently, JNJ stock is trading approximately 1.4% below its 20-day simple moving average (SMA) and 5.8% above its 100-day SMA, demonstrating some short-term weakness but longer-term strength.
Over the past 12 months, shares have increased by 44.50%, and they are currently positioned closer to their 52-week highs than lows, reflecting a strong upward trend.
The RSI is at 51.61, which is considered neutral territory, indicating that the stock is neither overbought nor oversold. Meanwhile, the MACD is at 4.9901, below its signal line at 6.3318, suggesting bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that while the stock is not in an overbought condition, there may be some downward pressure to watch.
- Key Resistance: $243.50
- Key Support: $226.00
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $228.56. Recent analyst moves include:
- JPMorgan: Neutral (Raises Target to $250.00) (Mar. 5)
- RBC Capital: Outperform (Raises Target to $255.00) (Feb. 3)
- Morgan Stanley: Upgraded to Overweight (Raises Target to $262.00) (Jan. 28)
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Johnson & Johnson, highlighting its strengths and weaknesses compared to the broader market:
- Value Rank: 19.51 — Trading at a steep premium relative to peers.
- Quality Rank: 15.22 — Indicates potential concerns about profitability.
- Momentum Rank: 85.73 — Stock is outperforming the broader market.
The Verdict: Johnson & Johnson’s Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the Momentum (85.73) confirms the strong trend, the low Value (19.51) score warns that the stock is priced for perfection—investors should ride the trend but use tight stop-losses.
JNJ Price Action: Johnson & Johnson shares were trading 0.72% lower at $237.90 during premarket trading on Friday, according to Benzinga Pro data.
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