Leerink Upgrades Johnson & Johnson to Buy With $265 Target as New Drugs Lift Growth Outlook
Updated
Updated · CNBC · May 13
Leerink Upgrades Johnson & Johnson to Buy With $265 Target as New Drugs Lift Growth Outlook
2 articles · Updated · CNBC · May 13
Johnson & Johnson rose more than 2% after Leerink upgraded the stock to buy from hold and lifted its price target to $265 from $252, implying more than 15% upside.
Leerink tied the call to new-drug momentum, especially psoriasis pill Icotyde and bladder-cancer treatment Inlexzo, arguing they can accelerate revenue growth and drive stock outperformance.
Icotyde, launched in March, is forecast by Leerink to generate $405 million in 2026 sales—about 50% above the $268 million Street consensus—and could gain another catalyst from phase 3 inflammatory bowel disease trials in 2028.
Inlexzo, launched in September, showed strong early demand; J&J's CFO recently disclosed quarterly sales above $30 million, an unusual early-launch data point that analysts called bullish.
The upgrade stands out in a market focused on AI: J&J shares are up 10% year to date while the health-care sector ETF XLV is down 9%.
In an AI-obsessed market, can two new blockbuster drugs truly revive investor faith in big pharma?
J&J's new oral psoriasis pill aims to dethrone injectable giants. Is this optimism a breakthrough or a bubble?