Johnson & Johnson Reports 100% Success in OMNY-AF Atrial Fibrillation Study

Johnson & Johnson disclosed 12-month pilot-phase data from the OMNY-AF study on February 6 at the 31st Annual AF Symposium in Boston, evaluating the investigational OMNYPULSE Platform for the treatment of symptomatic paroxysmal atrial fibrillation. The initial results for 12-month outcomes across the 30-patient pilot cohort reflect that investigators attained 100% acute procedural success with no procedure-associated adverse events.

The study results showed that 56.7% of cases were performed with zero fluoroscopy, and 90% of patients achieved primary effectiveness at 12 months. According to the Section Head of Cardiac Electrophysiology at the Naples Heart Institute, "The 12-month data provide encouraging early evidence on the OMNY-AF study with promising safety outcomes – no procedure-related adverse events or MRI-detected cerebral lesions – across eight centers in the pilot phase."

In a separate development, RBC Capital raised the price target on Johnson & Johnson to $255 from $240 on February 3, maintaining an Outperform rating on the shares. The firm stated that it is unlikely for the key implications of the Daubert ruling to be undone. However, it added that the cases may drag on for years as Johnson & Johnson litigates this case-by-case and year-by-year, maintaining a strong financial position by enhancing business fundamentals to help mitigate risks.

BofA lifted the price target on Johnson & Johnson to $227 from $221 on January 30 while maintaining a Neutral rating on the shares. The firm told investors that the increased price target points towards a higher blended P/E multiple, which in turn assumes a raised MedTech multiple on a higher pharma multiple and higher organic growth, given a defensive premium.

Johnson & Johnson develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The Innovative Medicine segment focuses on various therapeutic areas, including oncology, infectious diseases, immunology, cardiovascular and metabolic diseases, and others. The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields. Headquartered in New Jersey, the company serves a wide clientele, including retailers, wholesalers, healthcare professionals, and hospitals.