Guggenheim Cuts Janux Therapeutics (NASDAQ:JANX) Price Target to $58.00

Key Points

• Guggenheim trimmed its price target for Janux from $68 to $58 but kept a "buy" rating, signaling a potential 298.60% upside from current levels.
• Analyst views are mixed with several recent downgrades and target cuts (notably UBS to $15), yet the consensus remains a "Moderate Buy" with an average target of $48.92.
• Janux shares trade around $14.55 with a market cap near $887M; the company reports negative EPS (recent quarter -$0.39, which beat estimates) and about 75% institutional ownership.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) had its price objective dropped by equities research analysts at Guggenheim from $68.00 to $58.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective would indicate a potential upside of 298.60% from the stock's current price.

Several other analysts have also recently weighed in on the company. Clear Str cut Janux Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. UBS Group cut shares of Janux Therapeutics from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $57.00 to $15.00 in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of Janux Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 22nd. JonesTrading dropped their target price on shares of Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Finally, Piper Sandler decreased their price objective on shares of Janux Therapeutics from $42.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.92.

Janux Therapeutics Stock Performance

Shares of Janux Therapeutics stock opened at $14.55 on Friday. The company's 50 day moving average price is $14.35 and its 200-day moving average price is $17.45. Janux Therapeutics has a 52-week low of $12.12 and a 52-week high of $35.34. The stock has a market capitalization of $887.03 million, a price-to-earnings ratio of -7.95 and a beta of 2.58.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.13. The company had revenue of $3.73 million during the quarter, compared to the consensus estimate of $4.36 million. As a group, equities research analysts forecast that Janux Therapeutics will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Janux Therapeutics

A number of large investors have recently made changes to their positions in JANX. Aberdeen Group plc raised its holdings in shares of Janux Therapeutics by 21.1% in the third quarter. Aberdeen Group plc now owns 345,476 shares of the company's stock worth $8,443,000 after buying an additional 60,188 shares during the period. Readystate Asset Management LP increased its stake in Janux Therapeutics by 38.0% in the third quarter. Readystate Asset Management LP now owns 960,379 shares of the company's stock worth $23,472,000 after purchasing an additional 264,423 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Janux Therapeutics in the fourth quarter worth $536,000. SG Americas Securities LLC lifted its position in shares of Janux Therapeutics by 175.1% during the fourth quarter. SG Americas Securities LLC now owns 79,817 shares of the company's stock worth $1,101,000 after purchasing an additional 50,802 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its stake in shares of Janux Therapeutics by 81.6% during the third quarter. Rhenman & Partners Asset Management AB now owns 100,127 shares of the company's stock valued at $2,447,000 after purchasing an additional 45,000 shares during the period. 75.39% of the stock is owned by hedge funds and other institutional investors.

Janux Therapeutics Company Profile

Janux Therapeutics is a clinical-stage biotechnology company focused on developing next-generation intratumoral immuno-oncology therapies that harness the body’s innate and adaptive immune systems. The company designs and synthesizes proprietary Toll-like receptor (TLR) agonists to reprogram the tumor microenvironment. Janux is publicly traded on the Nasdaq under the symbol JANX.

Its lead programs include JTX-8064, a fully synthetic TLR4 agonist engineered for optimal stability and potency, and JTX-4014, a TLR1/2 agonist formulated for direct intratumoral administration.

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