Keep an eye on Johnson & Johnson (JNJ).
After pulling back from a high of $173.65, it caught support at $161.99. From here, the stock could again test prior highs if the US FDA grants emergency authorization for its vaccine.
With a 66% effective rate in protecting against the virus, JNJ applied for emergency use. If approved, JNJ would have the third vaccine authorized.
“Today’s submission for Emergency Use Authorization of our investigational single-shot COVID-19 vaccine is a pivotal step toward reducing the burden of disease for people globally and putting an end to the pandemic,” J&J’s chief scientific officer, Dr. Paul Stoffels, said, as quoted by CNBC. “Upon authorization of our investigational COVID-19 vaccine for emergency use, we are ready to begin shipping.”
The US FDA has scheduled a Feb. 26 meeting of its Vaccines and Related Biological Products Advisory Committee to discuss the authorization.
