Johnson & Johnson forecasts $2.5 billion in COVID-19 vaccine sales this year

Trade Ideas

Johnson & Johnson forecasts $2.5 billion in COVID-19 vaccine sales this year

Johnson & Johnson (NYSE:JNJ) is trading up 0.94% at 168.45

Johnson & Johnson on Wednesday forecast just $2.5 billion in 2021 sales of its COVID-19 vaccine, which has fallen way behind rival shots from Pfizer and Moderna (NASDAQ:MRNA) as the company deals with vaccine production issues and safety concerns.

J&J said it expects full-year sales of $91.3 billion-$92.1 billion this year from the rest of the business, and $93.8 billion to $94.6 billion including contribution from the single-dose vaccine.

The J&J shot, once touted as an important tool for vaccinations in hard-to-reach areas, is far behind on its schedule for deliveries in the United States and Europe

Use of the vaccine has also been linked to a very rare, potentially life-threatening blood-clotting condition. Last week, U.S. regulators added a warning to the vaccine related to a rare autoimmune disorder.

Pfizer Inc (NYSE:PFE) has forecast $26 billion in sales of its vaccine, while Moderna Inc has forecast $19.2 billion in vaccine sales this year. Both were approved in the United States last year, while the J&J shot was approved this year.

Both companies have said they expect to profit from their vaccines, while Johnson & Johnson (NYSE:JNJ) has said it will make the vaccine available on a not-for-profit basis during the pandemic.

On technical fronts Johnson & Johnson (NYSE:JNJ) RSI stood at 54.50 and currently stock is trading above all Moving Average. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : Johnson & Johnson (NYSE:JNJ) – BUY: 168.45, TARGET: 171.42, STOP LOSS : 167.04

About Author

Related posts

European stock markets

European Stock Futures Higher; Fed Meeting Looms Large

European stock markets are expected to open higher Tuesday, rebounding from the previous session’s sharp losses, although worries remain about the contagion risks associated with property giant China Evergrande Group, while the Federal Reserve’s policy meeting continues to dominate thinking. At 2:05 AM ET (0605 GMT), the DAX Futurescontract...

Read More

Leave a Reply