Juno Therapeutics, Inc. (NASDAQ:JUNO) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Juno reported wider-than-expected loss in second-quarter 2017 with revenue beating estimates. The company suffered a huge setback with discontinuation of the development of cancer candidate, JCAR015, due to the toxicity witnessed in a phase II ROCKET study. Also, increased competition in the immunotherapy space is a matter of concern for the company as several companies are looking to bring these treatments to the market. Juno’s pipeline candidates are still a few steps away from approval and hence, any setback would weigh heavily on the stock. Shares of the company have also underperformed the industry in the last one year. However, the company remains on track with its pipeline and continues to pursue acquisitions and licensing agreements. The company’s deal with Celgene for global development and commercialization of immunotherapies is encouraging.”
JUNO has been the topic of a number of other reports. Leerink Swann reissued an outperform rating on shares of Juno Therapeutics in a research report on Monday, June 12th. Vetr downgraded shares of Juno Therapeutics from a hold rating to a sell rating and set a $28.85 price objective on the stock. in a research report on Monday, July 24th. Morgan Stanley increased their price objective on shares of Juno Therapeutics from $26.00 to $27.00 and gave the company an equal weight rating in a research report on Monday, August 7th. BidaskClub downgraded shares of Juno Therapeutics from a buy rating to a hold rating in a research report on Saturday, June 10th. Finally, BTIG Research downgraded shares of Juno Therapeutics from a neutral rating to a sell rating and increased their price objective for the company from $22.60 to $23.73 in a research report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Juno Therapeutics currently has a consensus rating of Hold and an average target price of $30.63.
Juno Therapeutics (NASDAQ JUNO) traded up 1.86% on Thursday, hitting $28.49. 722,929 shares of the company’s stock traded hands. The stock has a 50-day moving average of $29.07 and a 200-day moving average of $24.60. The stock’s market cap is $2.99 billion. Juno Therapeutics has a one year low of $17.52 and a one year high of $35.04.
Juno Therapeutics (NASDAQ:JUNO) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by $0.24. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 27.10%. The firm had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $15.59 million. During the same period in the prior year, the company posted ($0.64) earnings per share. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. On average, equities analysts forecast that Juno Therapeutics will post ($3.13) earnings per share for the current fiscal year.
In other Juno Therapeutics news, Director Anthony B. Evnin purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was purchased at an average price of $24.40 per share, for a total transaction of $219,600.00. Following the purchase, the director now directly owns 66,301 shares in the company, valued at $1,617,744.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Douglas K. Bratton sold 8,000,000 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $27.00, for a total transaction of $216,000,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,053,500 shares of company stock valued at $217,594,440. Company insiders own 15.26% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Juno Therapeutics during the fourth quarter worth $204,000. Norges Bank acquired a new stake in shares of Juno Therapeutics during the fourth quarter worth $13,993,000. Teachers Advisors LLC boosted its stake in shares of Juno Therapeutics by 12.3% in the fourth quarter. Teachers Advisors LLC now owns 60,834 shares of the biopharmaceutical company’s stock worth $1,147,000 after buying an additional 6,643 shares in the last quarter. Creative Planning boosted its stake in shares of Juno Therapeutics by 248.8% in the first quarter. Creative Planning now owns 48,016 shares of the biopharmaceutical company’s stock worth $1,065,000 after buying an additional 34,250 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Juno Therapeutics during the first quarter worth approximately $200,000. Hedge funds and other institutional investors own 64.60% of the company’s stock.
About Juno Therapeutics
Juno Therapeutics, Inc (Juno) is a biopharmaceutical company, which is focused on developing cellular immunotherapies for 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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