Early Bird Prime for May 19, 2024

Pharma stocks have been unpopular over the past year, and Johnson & Johnson (NYSE: JNJ) has been leading the charge in this unpopularity contest. 

The stock is down 3.33% in 2024, even as the rest of the market grows.

The market gave Johnson & Johnson's financial results in mid-April the cold shoulder. Investors were not impressed, and the stock took a hit. 

But Johnson & Johnson has been on a comeback tour lately, climbing 7% like a determined mountain goat.

Last week, Johnson & Johnson decided to shake things up by buying dermatology-focused biotech Proteologix. The market reacted positively, sending the stock price up. 

And if that wasn't enough excitement, they also exited their spinoff Kenvue (NYSE: KVUE) with a stake sale.

So, with all this good news, you might wonder if now is the time to buy Johnson & Johnson stock. Is the stock the golden ticket to success or another mirage in the desert of investment opportunities? Well, here’s the answer: