Johnson & Johnson Falls On Bernstein Downgrade

Johnson & Johnson JNJ was downgraded by analysts at Bernstein on Wednesday to Market Perform.

The stock fell throughout the day Wednesday losing more than 2 percent.

On Tuesday JNJ announced it was buying biotech company Alios BioPharma for $1.75 billion.

JNJ will have its Q3 earnings release on October 14.

Johnson & Johnson traded at $104.14 late Wednesday, down 2.30 percent.