Janux Therapeutics (NASDAQ:JANX) Earns Overweight Rating from Analysts at Barclays

Key Points

• Barclays has initiated coverage of Janux Therapeutics (NASDAQ:JANX) with an "overweight" rating and a price target of $47.00, indicating a potential upside of 100.77% from its previous close.
• The company's recent quarterly earnings report revealed a loss of ($0.55) per share, missing analysts' expectations by $0.07.
• As of now, Janux Therapeutics has received a consensus rating of "Buy" from analysts, with a target price averaging $78.31.

Barclays started coverage on shares of Janux Therapeutics (NASDAQ:JANX - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set an "overweight" rating and a $47.00 price target on the stock. Barclays's target price suggests a potential upside of 100.43% from the company's current price.

Several other brokerages have also recently weighed in on JANX. Guggenheim assumed coverage on Janux Therapeutics in a report on Wednesday, September 3rd. They issued a "buy" rating and a $72.00 price objective for the company. Raymond James Financial began coverage on shares of Janux Therapeutics in a research note on Friday, July 11th. They set an "outperform" rating and a $65.00 target price on the stock. Piper Sandler began coverage on shares of Janux Therapeutics in a research note on Monday, August 18th. They set an "overweight" rating and a $42.00 target price on the stock. Truist Financial assumed coverage on shares of Janux Therapeutics in a research note on Wednesday, September 10th. They set a "buy" rating and a $100.00 target price on the stock. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $45.00 price objective on shares of Janux Therapeutics in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Janux Therapeutics presently has an average rating of "Buy" and an average target price of $78.31.

Janux Therapeutics Price Performance

JANX stock traded down $0.95 during trading hours on Wednesday, reaching $23.45. 2,359,160 shares of the stock were exchanged, compared to its average volume of 560,076. The firm's 50-day moving average is $24.45 and its 200-day moving average is $26.06. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -13.03 and a beta of 2.84. Janux Therapeutics has a 12 month low of $21.97 and a 12 month high of $71.71.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.07). As a group, equities research analysts forecast that Janux Therapeutics will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Janux Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in Janux Therapeutics by 704.6% in the 2nd quarter. Osaic Holdings Inc. now owns 3,468 shares of the company's stock worth $80,000 after purchasing an additional 3,037 shares in the last quarter. Squarepoint Ops LLC grew its position in Janux Therapeutics by 230.0% in the 2nd quarter. Squarepoint Ops LLC now owns 189,569 shares of the company's stock worth $4,379,000 after purchasing an additional 132,121 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Janux Therapeutics by 175.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company's stock worth $91,000 after purchasing an additional 2,502 shares in the last quarter. Lazard Asset Management LLC grew its position in Janux Therapeutics by 64.8% in the 2nd quarter. Lazard Asset Management LLC now owns 99,858 shares of the company's stock worth $2,306,000 after purchasing an additional 39,278 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Janux Therapeutics by 115.0% in the 2nd quarter. Engineers Gate Manager LP now owns 39,749 shares of the company's stock worth $918,000 after purchasing an additional 21,258 shares in the last quarter. 75.39% of the stock is owned by institutional investors.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.