This week, Kenvue, the consumer health spin-off from Johnson & Johnson, found itself at the epicenter of a market tempest this week. It began when The Wall Street Journal reported Robert F. Kennedy Jr., a longtime promoter of scientifically baseless causes for autism, planned to link Tylenol use during pregnancy to the condition. A stock rout ensued, since Kennedy is secretary of the U.S. Department of Health & Human Services and leads the “Make America Healthy Again” movement, or MAHA. An intraday slump neared 15% at one point after the Journal‘s report before retreating, but roughly 9% has still been wiped off Kenvue’s market cap.

A chorus of Wall Street analysts beg to differ, reaffirming Kenvue’s fundamental resilience and seeing this as an opportunity to buy the dip. In notes distributed to clients Monday morning, firms such as BofA Securities and Canaccord Genuity encouraged investors to view the sell-off as a buying opportunity rather than confirmation of a deep and lasting threat to Kenvue’s business.

No proof, even a mixed MAHA reaction

Canaccord analysts wrote the bank believes the legal risk is minimal given that a mass tort lawsuit on similar claims “was essentially shut down” in December 2023. The bank also noted a statement from HHS that any claims about Kennedy’s report were speculation. Calling the market sell-off a “major overreaction,” it added that it sees “no reputable study [that] has linked acetaminophen use to increased risk of [autism spectrum disorder].” The headline risk, if any, is losing a small segment of consumers rather than a multibillion-dollar verdict.

Canaccord also monitored public sentiment by reading comments across multiple social media formats, including those more likely to support Kennedy’s MAHA movement. Mainstream channels finds no acceptance of these claims, while even “more fringe” sources produce “mixed sentiment” with indicating there is still no proof, and others vocal about other seeming conspiracy theories, such as that vaccines cause autism—also unproven, the bank notes.

Analysts at BNP Paribas said Friday proving a link to autism remains unlikely given prior rulings that Tylenol is safe, including the FDA saying it hasn’t found clear evidence tying acetaminophen to developmental risks, and the American College of Obstetricians and Gynecologists making a similar recommendation. The FDA does advise pregnant women to check with their doctors about using it, though.

No smoking gun

Despite ongoing lawsuits, federal judges have so far found the scientific evidence linking acetaminophen use in pregnancy to autism or ADHD to be inconclusive, leading to the dismissal of several high-profile cases.

Kenvue itself has forcefully denied any wrongdoing and highlighted the regulatory consensus. In a statement to the BBC, the company said, “We have continuously evaluated the science and continue to believe there is no causal link between acetaminophen use during pregnancy and autism.” Still, the uncertainty isn’t lost on Wall Street. Several notes flagged the potential for elevated legal expenses and PR costs if the controversy drags out.

For those watching closely, the reaction across Wall Street offers an important lesson in how medical controversies play out in public markets. While headline risk may rattle stocks, nuanced assessment from analysts can quickly restore perspective and, in some cases, spark recovery. As it stands, Kenvue’s Tylenol saga appears to be more noise than signal—at least for now, according to those paid to know.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.