Janux Therapeutics (NASDAQ:JANX) Price Target Cut to $36.00 by Analysts at Wedbush

Key Points

• Wedbush cut Janux's price target to $36 (from $45) but kept an "outperform" rating, implying roughly a 150.9% upside from the stock's prior close.
• Multiple brokers have recently reduced targets and ratings (Guggenheim, UBS, Barclays, Piper Sandler, JonesTrading), though the MarketBeat consensus target remains $48.17 with an average rating of "Moderate Buy."
• Janux traded at $14.35 after reporting Q results that beat EPS estimates (‑$0.39) but missed revenue; the company has a market cap of about $875M and continued negative EPS expectations.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) had its price objective cut by analysts at Wedbush from $45.00 to $36.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 150.89% from the stock's previous close.

JANX has been the subject of several other research reports. Guggenheim decreased their price objective on shares of Janux Therapeutics from $68.00 to $58.00 and set a "buy" rating for the company in a research note on Friday. UBS Group lowered shares of Janux Therapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $57.00 to $15.00 in a research note on Wednesday, April 15th. Barclays lowered shares of Janux Therapeutics from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $29.00 to $14.00 in a research note on Monday, April 20th. 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 research note on Friday, January 16th. Finally, JonesTrading decreased their price objective on shares of Janux Therapeutics from $50.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. One 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 stock. Based on data from MarketBeat, Janux Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $48.17.

Janux Therapeutics Trading Down 1.3%

NASDAQ JANX traded down $0.19 during trading hours on Friday, hitting $14.35. The company's stock had a trading volume of 195,161 shares, compared to its average volume of 1,212,830. Janux Therapeutics has a 52 week low of $12.12 and a 52 week high of $35.34. The company has a market capitalization of $874.72 million, a PE ratio of -7.86 and a beta of 2.58. The company's 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $17.45.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.13. The business had revenue of $3.73 million during the quarter, compared to the consensus estimate of $4.36 million. Research analysts anticipate that Janux Therapeutics will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Janux Therapeutics

Large investors have recently modified their holdings of the stock. Nano Cap New Millennium Growth Fund L P bought a new position in Janux Therapeutics in the 4th quarter worth approximately $34,000. Osaic Holdings Inc. boosted its holdings 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 buying an additional 3,037 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Janux Therapeutics in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC boosted its holdings 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 buying an additional 2,502 shares during the period. Finally, Winthrop Capital Management LLC bought a new position in Janux Therapeutics in the 3rd quarter worth approximately $106,000. Hedge funds and other institutional investors own 75.39% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.