NEW YORK, June 13, 2026, 14:06 ET
- Johnson & Johnson finished Friday at $240.87, rising 1.07%. The Dow and S&P 500 also closed higher.
- Fresh Phase 3 data on Talvey combos adds fuel to the bull case for J&J’s oncology pipeline.
- Investors are looking to Johnson & Johnson’s Q2 earnings call on July 15 as the next big event.
Johnson & Johnson finished Friday at $240.87, up 1.07%. The stock outperformed other big healthcare names as the S&P 500 added 0.50% and the Dow Jones Industrial Average climbed 0.70%. The Dow, being price-weighted, gives more influence to higher-priced stocks like J&J. S&P Dow Jones Indices calls the Dow a gauge of 30 U.S. blue-chip companies.
Johnson & Johnson on Saturday posted new Phase 3 MonumenTAL-3 data for its combination of Talvey and Darzalex Faspro, with or without pomalidomide, in patients with earlier-line relapsed or refractory multiple myeloma. According to the company, the combos slashed the risk of disease progression or death by as much as 72%, and cut risk of death by up to 53% compared to standard Darzalex Faspro, pomalidomide and dexamethasone treatment. Progression-free survival hit 81.3% at 24 months, while standard care stood at 51.2%. Overall survival was 89.2%, up from 79.1% for standard care.
That’s important for the stock as J&J’s valuation is tied more to new drugs making up for weak sales in older medicines and keeping earnings moving up. In Q1, Innovative Medicine sales rose 7.4% operationally thanks to Darzalex, Carvykti, Erleada, Rybrevant/Lazcluze, Tremfya and Spravato. Stelara weighed heavily, with J&J saying Stelara cut Innovative Medicine growth by about 920 basis points. One basis point is one-hundredth of a percentage point.
J&J’s bull story is about pipeline depth, with growth and defense both in play. In April, J&J posted first-quarter sales of $24.1 billion and adjusted EPS of $2.70. The company also boosted its 2026 outlook, guiding for reported sales of $100.8 billion at the midpoint and adjusted EPS of $11.55 at the midpoint. CEO Joaquin Duato called it “a strong start to 2026.” Talvey’s data on Saturday is the newest in a year already busy with approvals and launches in meds and medtech. Johnson & Johnson Investor Relations
The bear argument is that J&J’s stock could have already priced in much of the good news. Shares traded at a P/E of 27.9 on Friday. That price-to-earnings ratio is one way to measure how expensive a stock is next to its annual profits. MarketBeat’s most recent analyst poll gives the stock a Moderate Buy and shows an average target price of $253.04, just about 5% above where it trades now. Benzinga has the consensus target even lower, at $239.17, under Friday’s close.
Legal risk is still on the table. Reuters said on June 5 that J&J faces more than 67,000 lawsuits from plaintiffs who claim its baby powder and talc products caused ovarian cancer. J&J did beat that Los Angeles suit and has won a few others. Still, litigation risk can drag on stock multiples, raising questions about future payouts, reserves, and investor sentiment.
The next big test comes with the second-quarter earnings call on July 15 at 8:30 a.m. ET. Investors want to see if the company sticks with or bumps up its 2026 outlook, how it’s handling Stelara pressure, and if oncology and medtech are still growing fast. They’ll also be waiting to hear if management says anything about timelines for new data-supported combos.
Johnson & Johnson is trading around fair value at Friday’s close. The company has solid growth drivers, new oncology results and a steady dividend profile. But the stock’s pricing doesn’t leave much margin if earnings, pipeline progress or talc litigation go badly for investors.
