Juno Therapeutics, Inc. (JUNO) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a hold rating to a sell rating in a research report released on Monday 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.”
Several other research analysts also recently issued reports on the stock. BTIG Research upgraded shares of Juno Therapeutics from a sell rating to a neutral rating in a report on Monday. Vetr upgraded shares of Juno Therapeutics from a strong sell rating to a sell rating and set a $25.50 price target for the company in a report on Monday, August 14th. Morgan Stanley upped their price target on shares of Juno Therapeutics from $26.00 to $27.00 and gave the stock an equal weight rating in a report on Monday, August 7th. Finally, BidaskClub downgraded shares of Juno Therapeutics from a strong-buy rating to a buy rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Juno Therapeutics has an average rating of Hold and a consensus target price of $30.48.
Shares of Juno Therapeutics (NASDAQ:JUNO) opened at 36.48 on Monday. The firm’s market cap is $3.83 billion. Juno Therapeutics has a one year low of $17.52 and a one year high of $37.50. The stock has a 50 day moving average price of $28.62 and a 200 day moving average price of $25.14.
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 consensus estimate of ($0.72) by $0.24. The firm had revenue of $21.30 million for the quarter, compared to analyst estimates of $15.59 million. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 27.10%. The firm’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.64) earnings per share. On average, equities research analysts forecast that Juno Therapeutics will post ($3.13) EPS for the current year.
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In related news, Director Anthony B. Evnin acquired 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was acquired at an average cost of $24.40 per share, for a total transaction of $219,600.00. Following the completion of the acquisition, the director now directly owns 66,301 shares of the company’s stock, valued at approximately $1,617,744.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Douglas K. Bratton sold 8,000,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $27.00, for a total value of $216,000,000.00. The disclosure for this sale can be found here. Insiders sold 8,053,500 shares of company stock valued at $217,594,440 over the last 90 days. 15.26% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Juno Therapeutics by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 3,405 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 228 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Juno Therapeutics during the second quarter worth $105,000. QS Investors LLC bought a new stake in Juno Therapeutics during the second quarter worth $135,000. Great West Life Assurance Co. Can increased its stake in Juno Therapeutics by 80.5% in the first quarter. Great West Life Assurance Co. Can now owns 8,518 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 3,800 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in Juno Therapeutics during the first quarter worth $200,000. Institutional investors and hedge funds own 70.76% of the company’s stock.
Juno Therapeutics Company Profile
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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