Jefferies analyst David Steinberg says the 30.3% year-over-year gain for Symphony Health sales data in September suggests Pacira Pharmaceuticals' (PCRX) Exparel is continuing to accelerate. Exparel has now posted double digit year-over-year gains in 11 of the last 12 months arguably due to a strong nerve block launch and a Johnson & Johnson (JNJ) partnership that "may be hitting stride," Steinberg tells investors in a research note. The analyst sees the possibility for "significant upside" next year due to Centers for Medicare & Medicaid Services' unbundling in the ambulatory care setting. He keeps a Buy rating on Pacira with a $50 price target.

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H.C. Wainwright notes that Legend Biotech (LEGN) partner Janssen, a division of Johnson & Johnson (JNJ), reported Q1 aggregate revenues for Carvykti that implied a 1% quarter-over-quarter contraction following 5% quarter-over-quarter growth recorded from Q3 to Q4. However, the flat sales in Q were "not alarming to us" as the firm expects a return to growth, with substantial growth in the second half of 2024 compared to the first half, says the analyst, who reiterates a Buy rating and $87 price target on Legend shares.

Says has financial flexibility to consider multiple types of transactions.

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Reports Q1 revenue $21.4B, consensus $21.4B. "Johnson & Johnson's solid first quarter performance reflects our sharpened focus and the progress in our portfolio and pipeline," said Joaquin Duato, Chairman and Chief Executive Officer. "Our impact across the full spectrum of healthcare is unique in our industry, and the milestones achieved this quarter reinforce our position as an innovation powerhouse."

Notable companies reporting before tomorrow's open, with earnings consensus, include UnitedHealth (UNH), consensus $6.21... Johnson & Johnson (JNJ), consensus $2.47... Bank of America (BAC), consensus 72c... Morgan Stanley (MS), consensus $1.66... PNC Financial (PNC), consensus $3.02... BNY Mellon (BK), consensus $1.19.