According to a report by CNN, the U.S. Food and Drug Administration (FDA) has issued a warning that Johnson & Johnson’s (JNJ) COVID-19 vaccine could cause rare neurological complications in some cases.
The regulator said it observed an increase in reports of a rare neurological disorder called Guillain-Barre syndrome (GBS) among people dosed with COVID-19 vaccine of J&J’s subsidiary Janssen Pharmaceuticals.
“Reports of adverse events following use of the Janssen COVID-19 vaccine under emergency use authorization suggest an increased risk of Guillain-Barre syndrome during the 42 days following vaccination. Although the available evidence suggests an association between the Janssen vaccine and increased risk of GBS, it is insufficient to establish a causal relationship. No similar signal has been identified with the Moderna (MRNA) and Pfizer (PFE) – BioNTech SE (BNTX) COVID-19 vaccines,” the FDA said.
Furthermore, the regulator said that Janssen administered 12.8 million vaccines, out of which the U.S. Vaccine Adverse Reporting System received 100 preliminary reports of GBS. (See Johnson stock chart on TipRanks)
Cantor Fitzgerald analyst Louise Chen recently reiterated a Buy rating on the stock with a price target of $200 (18% upside potential).
In a research note to investors, the analyst said that the recently announced “positive” data for Johnson’s COVID-19 vaccine revealed that the vaccine showed “strong” neutralizing antibody activity against the Delta variant.
Overall, the stock has a Strong Buy consensus rating based on 7 Buys. The average Johnson & Johnson price target of $192.80 implies 13.8% upside potential. The company’s shares have gained 16.7% over the past year.
According to TipRanks’ Smart Score rating system, the company scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.
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