Juno Therapeutics Inc (JUNO) Receives “Outperform” Rating from Leerink Swann
Leerink Swann reiterated their outperform rating on shares of Juno Therapeutics Inc (NASDAQ:JUNO) in a report issued on Monday morning. The brokerage currently has a $34.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $45.00.
“We’re using a 12% discount rate which we think is appropriate as we use probability-weighted sales estimates for the products and believe the CELG (MP) collaboration, equity investment and ex-US opt-in to CD19 programs lower the risk profile relative to Juno’s peers. We assume the CAR-T market will be split among up to 5 competitors long-term, depending on the indication, including JUNO, KITE, NVS, CLLS, BLUE and others, pending further validation of respective products. Based on the complexity of the technology and manufacturing and the lack of regulatory path for generic versions of CAR-T products as a result of patient-specific manufacturing, we believe that CAR-T product sales are sustainable even after the loss of patent exclusivity.”,” the firm’s analyst wrote.
Several other brokerages have also recently issued reports on JUNO. Vetr cut Juno Therapeutics from a strong-buy rating to a buy rating and set a $38.02 price objective for the company. in a report on Tuesday, August 16th. Standpoint Research initiated coverage on Juno Therapeutics in a research report on Thursday, August 25th. They set a buy rating and a $47.00 price target for the company. BTIG Research initiated coverage on Juno Therapeutics in a research report on Tuesday, August 30th. They set a sell rating and a $23.00 price target for the company. FBR & Co set a $61.00 price target on Juno Therapeutics and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Maxim Group dropped their price target on Juno Therapeutics from $80.00 to $50.00 and set a buy rating for the company in a research report on Friday, August 5th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Juno Therapeutics has a consensus rating of Buy and an average price target of $40.40.
Juno Therapeutics (NASDAQ:JUNO) opened at 22.12 on Monday. The firm’s market cap is $2.27 billion. The stock has a 50 day moving average price of $27.32 and a 200 day moving average price of $32.73. Juno Therapeutics has a 52 week low of $19.41 and a 52 week high of $57.82.
Juno Therapeutics (NASDAQ:JUNO) last issued its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $0.05. The company earned $20.80 million during the quarter, compared to analysts’ expectations of $10.98 million. The business’s revenue was up 1200.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) earnings per share. Equities research analysts expect that Juno Therapeutics will post ($2.54) EPS for the current year.
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In related news, CEO Hans Edgar Bishop sold 23,042 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $30.06, for a total value of $692,642.52. Following the transaction, the chief executive officer now owns 2,541,151 shares in the company, valued at $76,386,999.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Azelby sold 12,921 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $24.14, for a total value of $311,912.94. Following the completion of the transaction, the executive vice president now owns 48,640 shares in the company, valued at approximately $1,174,169.60. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in Juno Therapeutics by 8.0% in the second quarter. Swiss National Bank now owns 79,900 shares of the biopharmaceutical company’s stock valued at $3,071,000 after buying an additional 5,900 shares during the period. Societe Generale purchased a new stake in shares of Juno Therapeutics during the second quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Juno Therapeutics by 3.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 134,849 shares of the biopharmaceutical company’s stock valued at $5,184,000 after buying an additional 4,062 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Juno Therapeutics by 426.5% in the second quarter. California State Teachers Retirement System now owns 133,205 shares of the biopharmaceutical company’s stock valued at $5,120,000 after buying an additional 107,904 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Juno Therapeutics by 54.7% in the second quarter. Bank of New York Mellon Corp now owns 259,047 shares of the biopharmaceutical company’s stock valued at $9,959,000 after buying an additional 91,608 shares in the last quarter.
About Juno Therapeutics
Juno Therapeutics, Inc (Juno) is a biopharmaceutical company focused on re-engaging the body’s immune system to revolutionize the treatment of cancer. The Company is developing cell-based cancer immunotherapies based on its chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies to genetically engineer T cells to recognize and kill cancer cells.
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