Janux Therapeutics, Inc. (NASDAQ:JANX) to Post Q2 2024 Earnings of ($0.21) Per Share, William Blair Forecasts

Janux Therapeutics, Inc. (NASDAQ:JANX - Free Report) - Equities researchers at William Blair dropped their Q2 2024 earnings per share (EPS) estimates for Janux Therapeutics in a research report issued to clients and investors on Tuesday, May 7th. William Blair analyst M. Phipps now forecasts that the company will post earnings per share of ($0.21) for the quarter, down from their previous forecast of ($0.20). William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Janux Therapeutics' current full-year earnings is ($1.41) per share. William Blair also issued estimates for Janux Therapeutics' Q3 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.97) EPS, Q2 2025 earnings at ($0.25) EPS, FY2025 earnings at ($1.00) EPS, FY2026 earnings at ($1.29) EPS, FY2027 earnings at ($2.12) EPS and FY2028 earnings at ($1.30) EPS.

Janux Therapeutics (NASDAQ:JANX - Get Free Report) last issued its earnings results on Friday, March 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.12. The business had revenue of $2.46 million during the quarter, compared to analysts' expectations of $0.98 million. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%.

Other analysts have also recently issued research reports about the company. Jonestrading began coverage on Janux Therapeutics in a research report on Tuesday, April 16th. They set a "buy" rating and a $70.00 price objective for the company. Wedbush lifted their price objective on Janux Therapeutics from $53.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday. BTIG Research started coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a "buy" rating and a $62.00 price objective for the company. Bank of America boosted their price target on Janux Therapeutics from $24.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $100.00 price target on shares of Janux Therapeutics in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $64.83.

Janux Therapeutics Price Performance

JANX traded down $3.02 during trading on Friday, reaching $48.92. 1,028,559 shares of the stock traded hands, compared to its average volume of 786,646. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -36.51 and a beta of 3.87. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $65.60. The stock's 50-day simple moving average is $45.27 and its two-hundred day simple moving average is $22.59.

Hedge Funds Weigh In On Janux Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in JANX. RA Capital Management L.P. increased its position in shares of Janux Therapeutics by 5.7% in the 3rd quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company's stock valued at $92,390,000 after buying an additional 495,008 shares in the last quarter. FMR LLC increased its position in shares of Janux Therapeutics by 25.5% in the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company's stock valued at $64,021,000 after buying an additional 1,288,526 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Janux Therapeutics by 38.6% in the 1st quarter. Vanguard Group Inc. now owns 1,357,960 shares of the company's stock valued at $51,127,000 after buying an additional 378,477 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company's stock valued at $11,592,000 after buying an additional 250,000 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Janux Therapeutics in the 1st quarter valued at $20,420,000. 75.39% of the stock is currently 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.