Domestic Manufacturing Boom: 12 Best Pharma Stocks to Invest in Now

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2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 98

Johnson & Johnson (NYSE:JNJ) is the second-best pharma stock to buy now. It develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The MedTech segment includes various medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.

In a report issued on May 2, Asad Haider from Goldman Sachs maintained a Buy rating on Johnson & Johnson (NYSE:JNJ) and set a price target of $176.00.

Leerink Partners analyst David Risinger also maintained his bullish stance on the stock on May 1, giving it a Buy rating due to the promising developments in its TAR-200 platform for bladder cancer treatment.

Strong data from the SunRISE-1 Cohort 4 study support this bullish sentiment, highlighting the significant potential of TAR-200 as a preferred treatment option. According to the analyst, it has the potential to replace more invasive procedures like radical cystectomy. The treatment also has a favorable safety profile.

Management estimates peak sales for the TARIS platform to surpass $5 billion, suggesting strong revenue potential. Johnson & Johnson (NYSE:JNJ) also plans to seek strategic approval in 2026, which further justifies the stock’s buy rating.

Since many bladder cancer patients fall in the non-muscle invasive category, the significant market opportunity further supports Johnson & Johnson’s (NYSE:JNJ) positive outlook.

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