Jounce Therapeutics, Inc. (NASDAQ:JNCE) Receives Consensus Recommendation of “Buy” from Analysts

Jounce Therapeutics, Inc. (NASDAQ:JNCEGet Rating) has been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.25.

Several research firms recently weighed in on JNCE. Raymond James upgraded Jounce Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $15.00 to $20.00 in a report on Friday, May 6th. Cowen upgraded Jounce Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, February 4th. Sumitomo Mitsui Financial Group began coverage on Jounce Therapeutics in a report on Wednesday, March 16th. They set an “outperform” rating and a $17.00 price target on the stock. StockNews.com initiated coverage on Jounce Therapeutics in a report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Zacks Investment Research raised Jounce Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Jounce Therapeutics during the 1st quarter worth $26,000. Royal Bank of Canada grew its position in shares of Jounce Therapeutics by 77.2% during the 3rd quarter. Royal Bank of Canada now owns 4,533 shares of the company’s stock worth $34,000 after buying an additional 1,975 shares in the last quarter. Citigroup Inc. grew its position in shares of Jounce Therapeutics by 36.3% during the 3rd quarter. Citigroup Inc. now owns 6,369 shares of the company’s stock worth $47,000 after buying an additional 1,696 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Jounce Therapeutics by 184.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,406 shares of the company’s stock worth $70,000 after buying an additional 6,103 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new position in shares of Jounce Therapeutics during the 3rd quarter worth $71,000. 78.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of JNCE traded up $0.11 during mid-day trading on Friday, hitting $4.36. 242,498 shares of the stock were exchanged, compared to its average volume of 415,131. The company has a market cap of $225.28 million, a PE ratio of -2.20 and a beta of 1.12. Jounce Therapeutics has a 52-week low of $4.06 and a 52-week high of $9.81. The firm has a 50-day moving average of $6.43 and a two-hundred day moving average of $7.27.

Jounce Therapeutics (NASDAQ:JNCEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.15). During the same period last year, the firm earned ($0.58) earnings per share. On average, analysts predict that Jounce Therapeutics will post -2.08 EPS for the current fiscal year.

About Jounce Therapeutics (Get Rating)

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company develops vopratelimab, a clinical-stage monoclonal antibody, which is in Phase II clinical trial that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors.

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Analyst Recommendations for Jounce Therapeutics (NASDAQ:JNCE)

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