Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a hold rating to a buy rating in a report published on Tuesday. They currently have $6.50 target price on the stock.
According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “
A number of other equities analysts also recently commented on the stock. Cowen reaffirmed a hold rating on shares of Jounce Therapeutics in a research note on Thursday, August 9th. ValuEngine raised shares of Jounce Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 2nd. HC Wainwright set a $13.00 target price on shares of Jounce Therapeutics and gave the stock a buy rating in a research note on Monday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Jounce Therapeutics from $12.00 to $10.00 and set a hold rating on the stock in a research note on Friday, August 10th. Finally, Raymond James started coverage on shares of Jounce Therapeutics in a research note on Thursday, June 28th. They set an outperform rating and a $13.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $12.08.
Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Friday, August 10th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.23. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%. The company had revenue of $19.38 million for the quarter, compared to the consensus estimate of $12.47 million. As a group, equities research analysts forecast that Jounce Therapeutics will post -1.26 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of JNCE. NumerixS Investment Technologies Inc purchased a new position in Jounce Therapeutics during the second quarter worth about $132,000. MetLife Investment Advisors LLC purchased a new stake in shares of Jounce Therapeutics in the 1st quarter valued at approximately $159,000. Bank of America Corp DE raised its stake in shares of Jounce Therapeutics by 243.4% in the 2nd quarter. Bank of America Corp DE now owns 28,607 shares of the company’s stock valued at $219,000 after acquiring an additional 20,276 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Jounce Therapeutics in the 1st quarter valued at approximately $243,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Jounce Therapeutics in the 1st quarter valued at approximately $313,000. 84.11% of the stock is currently owned by institutional investors.
Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
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