A committee of medical experts will meet Friday to discuss Johnson & Johnson‘s (JNJ) coronavirus vaccine before voting whether to recommend its authorization. The results could spark JNJ stock.
A positive vote from the Vaccines and Related Biological Products Advisory Committee will help pave the way toward a third coronavirus vaccine in the U.S. The Food and Drug Administration isn’t required to follow the committee’s recommendation, but it often does.
In clinical testing, Johnson & Johnson’s vaccine was 66% effective in preventing moderate and severe Covid-19. That hurt JNJ stock as investors compared it to Pfizer (PFE) and BioNTech‘s (BNTX) coronavirus vaccine, which was 95% effective, and Moderna‘s (MRNA) at 94.1% effectiveness.
But experts note it’s hard to make comparisons across studies. Johnson & Johnson’s vaccine is a one-shot dose. Pfizer and Moderna sell two-injection regimens. J&J tested its vaccine at a time when new, more infectious strains were emerging. Further, Johnson & Johnson’s shot prevented 100% of hospitalizations and deaths due to Covid-19.
Still, JNJ stock has been hamstrung on the effectiveness results. Shares have mostly traveled sideways this year. JNJ stock broke out of a flat base with a buy point at 155.57 in December. It’s now narrowly inside a buy zone, according to MarketSmith.com.
In premarket trading on the stock market today, JNJ stock inched up a fraction near 163.20.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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