UBS Maintains a 'Buy' on Johnson & Johnson (JNJ); Bapineuzumab Misses on ApoE4 Carriers

UBS maintains a 'Buy' on Johnson & Johnson (NYSE: JNJ) price target of $70.00.

Analyst, Rajeev Jashnani, said Bapi misses on ApoE4 carriers. Bapi is short for Elan's (NYSE: ELN) Alzheimer's treatment bapineuzumab, which just reported disappointing late-stage results.

According to research, back in 2009, Elan sold its Alzheimer's immunotherapy rights to a JNJ subsidiary, but kept the financial interests in Bapi. However, last night's repoort showed that Bapi wasn't effective (vs. placebo) in a study trying to target the ApoE4 gene. Shares of Elan are down almost 14% today, JNJ only 1.4%

For an analyst ratings summary and ratings history on Johnson & Johnson click here. For more ratings news on Johnson & Johnson click here.

Shares of Johnson & Johnson closed at $68.11 yesterday.

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