Why These 5 Stocks Are Getting Crushed on Wednesday

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In this article, we will discuss five stocks that are declining on Wednesday. If you want to take a look at some more stocks that are declining today and the latest market situation, go directly to Why These 10 Stocks Are Getting Crushed on Wednesday.

5. Johnson & Johnson (NYSE:JNJ) has fallen 1.9% as of 11:30 AM ET after the New Jersey-based healthcare giant was downgraded from an Outperform to a Market Perform rating by Lee Hambright at Bernstein. The analyst has given the stock a target price of $183 and sees “an uphill battle” of several years for Janssen, the pharma division of the business. The division is likely to face substantial loss as it will lose exclusivity for many therapeutics in its portfolio. One such instance is Stelara, which contributes 21% to the top line of the Janssen division and will lose its patent related to composition next year. Overall, the number of hedge funds having a stake in Johnson & Johnson (NYSE:JNJ) declined from 88 in Q3 2021 to 83 in Q4 2021.

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