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

Janux Therapeutics (NASDAQ:JANX) had its price objective increased by Wedbush from $53.00 to $74.00 in a research report report published on Wednesday, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts also recently commented on JANX. Bank of America lifted their price target on shares of Janux Therapeutics from $24.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, March 13th. BTIG Research began coverage on shares of Janux Therapeutics in a research note on Thursday, March 21st. They set a buy rating and a $62.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Janux Therapeutics in a report on Wednesday, March 20th. They issued an overweight rating and a $100.00 target price on the stock. Jonestrading began coverage on shares of Janux Therapeutics in a report on Tuesday, April 16th. They issued a buy rating and a $70.00 target price on the stock. Finally, William Blair restated an outperform rating on shares of Janux Therapeutics in a report on Tuesday, February 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $64.83.

Janux Therapeutics Stock Performance

JANX traded down $3.43 on Wednesday, reaching $51.94. The company had a trading volume of 1,492,684 shares, compared to its average volume of 783,958. The business has a 50 day simple moving average of $45.20 and a 200 day simple moving average of $22.38. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -38.73 and a beta of 3.87. Janux Therapeutics has a 52-week low of $5.65 and a 52-week high of $65.60.

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

Institutional Trading of Janux Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in 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. Lord Abbett & CO. LLC purchased a new position in Janux Therapeutics during the first quarter valued at $20,420,000. RA Capital Management L.P. raised its position in shares of Janux Therapeutics by 5.7% in the 3rd quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company’s stock worth $92,390,000 after purchasing an additional 495,008 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $11,592,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Janux Therapeutics in the 4th quarter worth about $654,000. Institutional investors own 75.39% of the company’s stock.

About Janux Therapeutics

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.