Janux Therapeutics (NASDAQ:JANX) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Janux Therapeutics to $27 from $26 and maintained a Buy rating, implying 60.49% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: Janux has a consensus “Moderate Buy” rating and an average price target of $36.92, though recommendations range from Strong Buy to Sell.
• Janux reported a quarterly loss of $0.34 per share, better than the $0.47 loss analysts expected, and revenue of $9.29 million versus an $8.03 million estimate.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) had its target price raised by analysts at Truist Financial from $26.00 to $27.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 60.49% from the company's current price.

A number of other research firms have also recently weighed in on JANX. Stifel Nicolaus set a $35.00 target price on shares of Janux Therapeutics in a research note on Friday, August 7th. TD Cowen upgraded Janux Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. Barclays boosted their target price on Janux Therapeutics from $14.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday. HC Wainwright reiterated a "buy" rating on shares of Janux Therapeutics in a report on Monday, October 19th. Finally, Wolfe Research upgraded Janux Therapeutics from a "peer perform" rating to an "outperform" rating and set a $23.00 price target on the stock in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.92.

Janux Therapeutics Price Performance

Shares of JANX traded up $0.76 on Friday, reaching $16.82. The company's stock had a trading volume of 233,773 shares, compared to its average volume of 1,054,173. The stock's 50 day simple moving average is $17.52 and its two-hundred day simple moving average is $15.39. The stock has a market capitalization of $1.03 billion, a P/E ratio of -10.29 and a beta of 2.44. Janux Therapeutics has a 12-month low of $12.12 and a 12-month high of $35.34.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.13. The business had revenue of $9.29 million during the quarter, compared to the consensus estimate of $8.03 million. Analysts expect that Janux Therapeutics will post -1.70 earnings per share for the current year.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of JANX. Bank of New York Mellon Corp acquired a new position in Janux Therapeutics during the second quarter worth $2,075,000. Jupiter Topco LLC acquired a new position in Janux Therapeutics during the second quarter worth $2,646,000. State Street Corp boosted its position in shares of Janux Therapeutics by 22.0% during the 2nd quarter. State Street Corp now owns 3,004,899 shares of the company's stock valued at $46,155,000 after acquiring an additional 540,882 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Janux Therapeutics in the 2nd quarter valued at approximately $13,985,000. Finally, BlackRock Inc. acquired a new position in shares of Janux Therapeutics in the 2nd quarter valued at $94,228,000. Institutional investors and hedge funds own 75.39% of the company's stock.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc is a clinical-stage biopharmaceutical company developing immune-based medicines for the treatment of cancer and autoimmune diseases. The company's research is focused on designing therapies that selectively activate the immune system in diseased tissue while limiting activity in healthy tissue.

Janux's proprietary technology platform is designed to create tumor-activated T-cell engager therapies and other immunomodulators. These medicines are engineered to remain relatively inactive in the circulation and become activated in the tumor microenvironment, with the goal of improving the therapeutic window of immune therapies.

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