Johnson & Johnson (JNJ) will release its quarterly financial results on October 15th, 2024. Before a firm releases its profits, it is crucial to account for any changes to revenue predictions. These changes are a critical indicator for forecasting future stock-related investor behavior.
JNJ Earnings Projection
According to projections, the quarter's earnings per share (EPS) would be $2.19, a 17.7% drop from last year. The corporation is anticipated to generate $22.19 billion in earnings for the quarter, a 3.9% rise over the same quarter last year.
Earnings are expected to be $10 each share yearly, a minor increase of 0.81% over the prior year. On the other hand, the estimated yearly income is $88.53 billion, representing a 4.82% drop from the previous year.
JNJ Revenue Segment Projection
In light of this viewpoint, let's examine the average estimations of some Johnson & Johnson indicators often monitored and predicted by Wall Street experts.
Analysts predict that 'Sales-MedTech-Total' will reach $8.07 billion. The estimate shows a shift of +8.2% from year to year.
According to analysts, 'Sales—Innovative Medicine—WW' is expected to reach $14.12 billion. The estimate suggests an annual change of +1.7%.
According to analysts, 'Sales—Innovative Medicine—Neuroscience—WW' is expected to hit $1.80 billion. The estimate shows a shift of +3.5% from year to year.
JNJ's Success On Chronic Disease Antibody
On Thursday, Johnson & Johnson JNJ reported that the company's Tremfya monoclonal antibody therapy demonstrated "impressive results" in patients with Crohn's condition and ulcerative colitis who were biologic-refractory and biologic-naive.
According to the pharmaceutical company, Tremfya has a high endoscopic rate of remission in individuals, indicating a "normal look of the intestinal mucosa."
According to Johnson & Johnson, Tremfya's phase 3 research data demonstrated higher endoscopic remission rates than ustekinumab in patients with biologic-naive and biologic-refractory Crohn's disease.
In those patients suffering from ulcerative colitis who were either biologic/JAK inhibitor naive or biologic/JAK inhibitor-resistant, a different phase 3 study of the medication showed higher rates of endoscopic cure when compared to placebo.
Tremfya is being evaluated for Crohn's disease and is licensed by the US Food and Drug Administration for treating individuals with moderately to extremely active ulcerative colitis.
JNJ Stock Forecast Technical Analysis
In the daily chart of JNJ stock price, the ongoing market momentum is bullish where the recent price trades above the 100 day SMA line.
Looking at the structure, the bullish wave initiated from June 2024 has found a peak at the 168.75 level. As the current price still trades above the 50% Fibonacci line from this peak, we may remain cautious to find a long signal from the premium price.
The volume structure looks positive for sellers as the current price is trading way above the high volume level.
Based on the daily market outlook of JNJ, a bullish daily close above the 163.37 high could increase the possibility of grabbing the trendline liquidity from the 167.00 to 168.90 zone. However, a failure to move above the 164.00 to 166.00 zone could increase the bearish possibility, towards the 144.48 level.
