J&J Rallies Towards Record High as Oncology Business Booms

Johnson & Johnson's (JNJ) stock has seen a significant gain of 56.4% over the past year, and it continues to rally with a current price of $270.26. The company is expected to become the No. 1 oncology company by 2030, with oncology sales above $50 billion.

Last quarter, DARZALEX topped $4 billion in sales, while CARVYKTI grew 47.7% and TECVAYLI grew 56.1%. TREMFYA rose 71% to $2 billion, and more than 11,000 patients started taking oral psoriasis drug ICOTYDE.

The company's management expects JNJ to double-digit growth by the end of the decade and has a target for full-year free cash flow approaching $21 billion. Despite STELARA sales collapsing 59% in Q1 and litigation charges hitting $330 million, analysts remain positive with 5 Strong Buy and 11 Buy ratings against 1 Sell.