Maxim Group reaffirmed their buy rating on shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) in a research report released on Monday, Marketbeat Ratings reports. Maxim Group currently has a $56.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $34.00.
“The past few months have been transformative for the CAR-T space as Novartis’ Kymriah was approved and Gilead’s (GILD – $82.14 – Hold) (formerly Kite’s) axi-cel is likely to be approved in coming weeks. Gilead paid $12B for Kite, and Novartis has set the pricing bar for CAR-T at $475K. CAR-T is likely to be a multi-billion dollar global market opportunity, and that’s just for end- stage blood cancers. The question is if Kite sold for $12B, what’s the potential for Juno? The company is not far behind clinically as JCAR017’s TRANSCEND study will become a registration study and Juno could have its first CAR on the market in 2019.”,” the firm’s analyst wrote.
Several other research firms have also recently issued reports on JUNO. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $44.00 target price on shares of Juno Therapeutics in a research note on Friday, October 6th. Morgan Stanley reiterated an equal weight rating and issued a $43.00 price objective (up previously from $27.00) on shares of Juno Therapeutics in a research note on Friday, October 6th. ValuEngine upgraded shares of Juno Therapeutics from a sell rating to a hold rating in a research note on Tuesday, August 29th. Wells Fargo & Company reiterated an outperform rating and issued a $54.00 price objective (up previously from $35.00) on shares of Juno Therapeutics in a research note on Tuesday, September 5th. Finally, Barclays PLC started coverage on shares of Juno Therapeutics in a research note on Wednesday, September 6th. They issued an overweight rating and a $55.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $37.83.
Shares of Juno Therapeutics (JUNO) opened at 43.08 on Monday. The company’s 50-day moving average is $42.44 and its 200-day moving average is $30.05. The stock’s market cap is $4.52 billion. Juno Therapeutics has a 12-month low of $17.52 and a 12-month high of $47.03.
Juno Therapeutics (NASDAQ:JUNO) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.24). The company had revenue of $21.30 million for the quarter, compared to the consensus estimate of $15.59 million. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 27.10%. Juno Therapeutics’s revenue was down 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.64) EPS. On average, equities research analysts anticipate that Juno Therapeutics will post ($3.08) earnings per share for the current year.
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In related news, insider Sunil Agarwal sold 7,285 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $44.76, for a total value of $326,076.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Klausner sold 12,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $30.34, for a total transaction of $364,080.00. Following the completion of the sale, the director now directly owns 788,985 shares of the company’s stock, valued at $23,937,804.90. The disclosure for this sale can be found here. Insiders sold a total of 85,004 shares of company stock valued at $3,551,561 over the last three months. 15.26% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp purchased a new stake in Juno Therapeutics during the 1st quarter valued at approximately $381,000. Laurion Capital Management LP purchased a new stake in Juno Therapeutics during the 1st quarter valued at approximately $390,000. Marshall Wace LLP purchased a new stake in Juno Therapeutics during the 2nd quarter valued at approximately $1,071,000. Geode Capital Management LLC grew its holdings in Juno Therapeutics by 8.9% during the 1st quarter. Geode Capital Management LLC now owns 595,136 shares of the biopharmaceutical company’s stock valued at $13,206,000 after buying an additional 48,516 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in Juno Therapeutics during the 2nd quarter valued at approximately $260,000. 67.38% of the stock is owned by institutional investors and hedge funds.
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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