Janux Therapeutics (NASDAQ:JANX) PT Raised to $74.00 at Wedbush

Janux Therapeutics (NASDAQ:JANX) had its target price lifted by investment analysts at Wedbush from $53.00 to $74.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 38.19% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Jonestrading began coverage on shares of Janux Therapeutics in a research report on Tuesday, April 16th. They set a “buy” rating and a $70.00 target price for the company. Bank of America upped their target price on shares of Janux Therapeutics from $24.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BTIG Research started coverage on Janux Therapeutics in a report on Thursday, March 21st. They set a “buy” rating and a $62.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on Janux Therapeutics in a report on Wednesday, March 20th. They issued an “overweight” rating and a $100.00 target price on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $64.83.

Janux Therapeutics Price Performance

Shares of JANX stock traded down $7.95 on Wednesday, reaching $53.55. 946,783 shares of the company were exchanged, compared to its average volume of 768,942. The company has a 50-day moving average of $45.03 and a 200-day moving average of $22.15. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -39.45 and a beta of 3.87. Janux Therapeutics has a one year low of $5.65 and a one year high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.12. Janux Therapeutics had a negative return on equity of 17.88% and a negative net margin of 721.18%. The business had revenue of $2.46 million for the quarter, compared to analyst estimates of $0.98 million. As a group, sell-side analysts predict that Janux Therapeutics will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in shares of Janux Therapeutics by 227.1% in the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock valued at $181,000 after purchasing an additional 12,443 shares in the last quarter. FMR LLC increased its position in shares of Janux Therapeutics by 25.5% during the third quarter. FMR LLC now owns 6,351,322 shares of the company’s stock valued at $64,021,000 after buying an additional 1,288,526 shares during the period. Old Well Partners LLC purchased a new stake in shares of Janux Therapeutics in the third quarter worth about $104,000. Corton Capital Inc. bought a new position in shares of Janux Therapeutics in the third quarter valued at approximately $111,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Janux Therapeutics by 27.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock valued at $11,592,000 after acquiring an additional 250,000 shares during the period. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

Janux Therapeutics Company Profile

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.