Juno Lighting LLC (JUNO) Cut to Sell at Zacks Investment Research
Juno Lighting LLC (NASDAQ:JUNO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Juno suffered a huge setback in Jul 2016 with the FDA placing a clinical hold on a phase II study on JCAR015 in patients with relapsed or refractory B cell acute lymphoblastic leukemia. While the hold was lifted a week later and the study has resumed under a revised protocol, timelines have been pushed out with Juno now guiding towards FDA approval of JCAR015 in the first half of 2018 – the company was previously looking to gain accelerated approval in the U.S. in 2017. Moreover, estimates have moved down lately ahead of the company’s Q3 earnings release. The company also has a negative record of earnings surprises in recent quarters. However, Juno continues to progress with its other pipeline candidates and continues to pursue acquisitions and licensing agreements to boost its pipeline.”
Other equities analysts have also issued reports about the stock. Vetr lowered shares of Juno Lighting from a “strong-buy” rating to a “buy” rating and set a $38.02 price objective on the stock. in a research report on Tuesday, August 16th. FBR & Co set a $61.00 target price on shares of Juno Lighting and gave the stock a “buy” rating in a research report on Friday, August 5th. Maxim Group decreased their target price on shares of Juno Lighting from $80.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Leerink Swann restated a “buy” rating and set a $86.00 target price on shares of Juno Lighting in a research report on Thursday, July 14th. Finally, Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Juno Lighting in a research report on Sunday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.27.
Shares of Juno Lighting (NASDAQ:JUNO) traded up 1.20% during midday trading on Wednesday, hitting $29.54. 648,629 shares of the company were exchanged. The stock’s market capitalization is $3.01 billion. Juno Lighting has a 52-week low of $22.37 and a 52-week high of $57.82. The company has a 50-day moving average price of $30.66 and a 200-day moving average price of $36.29.
Juno Lighting (NASDAQ:JUNO) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.23. The company had revenue of $27.60 million for the quarter, compared to analysts’ expectations of $14.26 million. During the same quarter last year, the business posted ($0.35) EPS. Juno Lighting’s revenue was up 121.5% compared to the same quarter last year. On average, analysts forecast that Juno Lighting will post ($2.48) EPS for the current year.
In related news, CEO Hans Edgar Bishop sold 23,042 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $30.06, for a total value of $692,642.52. Following the completion of the transaction, the chief executive officer now owns 2,541,151 shares of the company’s stock, valued at approximately $76,386,999.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc increased its position in Juno Lighting by 23.9% in the first quarter. Commonwealth Equity Services Inc now owns 21,510 shares of the biopharmaceutical company’s stock worth $819,000 after buying an additional 4,150 shares in the last quarter. IFP Advisors Inc increased its position in Juno Lighting by 103.5% in the first quarter. IFP Advisors Inc now owns 5,299 shares of the biopharmaceutical company’s stock worth $202,000 after buying an additional 2,695 shares in the last quarter. Pacad Investment Ltd. bought a new position in Juno Lighting during the first quarter worth approximately $693,000. TIAA CREF Investment Management LLC increased its position in Juno Lighting by 4.4% in the first quarter. TIAA CREF Investment Management LLC now owns 175,882 shares of the biopharmaceutical company’s stock worth $6,699,000 after buying an additional 7,357 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Juno Lighting by 15.3% in the first quarter. BlackRock Group LTD now owns 34,653 shares of the biopharmaceutical company’s stock worth $1,320,000 after buying an additional 4,609 shares in the last quarter.
About Juno Lighting
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