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JNJ Seeking 60,000 Participants For Massive Covid-19 Vaccine Trial
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JNJ Seeking 60,000 Participants For Massive Covid-19 Vaccine Trial

Johnson & Johnson (JNJ) is aiming to test its coronavirus vaccine in up to 60,000 volunteers in a Phase 3 clinical trial set to launch in September, a U.S. government database has revealed.

This is double the number of participants in similar late-stage Covid-19 trials by rival companies such as Moderna and Pfizer.

According to the database, JNJ plans to hold the late-stage trial in almost 180 sites across countries such as the United States, Brazil and Mexico.

“We can confirm that planning and recruitment is underway for our Phase 3 program, which is subject to interim data of the Phase 1/2a trials and approval of regulators,” a Johnson & Johnson spokesman told Reuters.

“Our Phase 3 program is intended to be as robust as possible, could include up to 60,000 participants and will be conducted in places with high incidence rates,” he continued.

According to Reuters, the spokesman said J&J is using epidiological data to decide the trial locations, and a final decision will be made soon. If the trial launches in September, JNJ would be on track for its targeted vaccine launch date of 2021.

Shares in JNJ are trading up 4% year-to-date, and analysts have a bullish Strong Buy consensus on the stock. That’s with 7 back-to-back buy ratings in the last three months. Meanwhile the $167 average analyst price target indicates 10% upside potential lies ahead.

Merrill Lynch analyst Bob Hopkins recently reiterated a Buy rating on the stock with a $175 price target, saying that despite JNJ’s strong fundamentals the stock trades at a discount to the S&P500 which he calls a “relative mispricing”.

“We continue to like the risk reward in JNJ,” Hopkins wrote in a note to investors. “While visibility remains low with litigation, Covid’s impact on the economy could well bring names like JNJ back into favor and goodwill from a successful vaccine could limit drug pricing risk.” (See JNJ stock analysis on TipRanks).

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