Janux Therapeutics (NASDAQ:JANX) PT Raised to $74.00 at Wedbush

Janux Therapeutics (NASDAQ:JANX) had its target price increased by equities research analysts at Wedbush from $53.00 to $74.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 42.47% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. BTIG Research assumed coverage on shares of Janux Therapeutics in a report on Thursday, March 21st. They set a “buy” rating and a $62.00 target price on the stock. Jonestrading assumed coverage on shares of Janux Therapeutics in a report on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price on the stock. Bank of America raised their target price on shares of Janux Therapeutics from $24.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. William Blair reaffirmed an “outperform” rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Finally, Cantor Fitzgerald assumed coverage on shares of Janux Therapeutics in a report on Wednesday, March 20th. They set an “overweight” rating and a $100.00 target price on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $64.83.

Janux Therapeutics Stock Down 6.2 %

Shares of JANX stock opened at $51.94 on Wednesday. The firm has a 50 day moving average price of $45.20 and a two-hundred day moving average price of $22.38. The company has a market capitalization of $2.69 billion, a PE ratio of -38.76 and a beta of 3.87. Janux Therapeutics has a 12-month low of $5.65 and a 12-month high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.12. The firm had revenue of $2.46 million during the quarter, compared to the consensus estimate of $0.98 million. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. As a group, research analysts expect that Janux Therapeutics will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Janux Therapeutics by 25.5% in the third 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. Lord Abbett & CO. LLC acquired a new stake in Janux Therapeutics in the first quarter valued at approximately $20,420,000. RA Capital Management L.P. boosted its position in Janux Therapeutics by 5.7% in the third 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. Adage Capital Partners GP L.L.C. boosted its position in Janux Therapeutics by 27.8% in the third 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, Cerity Partners LLC acquired a new stake in Janux Therapeutics in the fourth quarter valued at approximately $654,000. 75.39% of the stock is owned by institutional investors.

About Janux Therapeutics

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.