Janux Therapeutics (NASDAQ:JANX) Earns Buy Rating from Analysts at Jonestrading

Jonestrading began coverage on shares of Janux Therapeutics (NASDAQ:JANX) in a report published on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $70.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. BTIG Research began coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a buy rating and a $62.00 price objective for the company. Bank of America lifted their price objective on Janux Therapeutics from $24.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. William Blair reiterated an outperform rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Cantor Fitzgerald started coverage on Janux Therapeutics in a research report on Wednesday, March 20th. They set an overweight rating and a $100.00 price objective for the company. Finally, Wedbush reissued an outperform rating and issued a $53.00 price target on shares of Janux Therapeutics in a research note on Monday, March 11th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $61.33.

Janux Therapeutics Stock Up 1.9 %

Shares of JANX stock opened at $48.85 on Tuesday. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $58.69. The stock has a market cap of $2.52 billion, a P/E ratio of -36.46 and a beta of 4.18. The business has a fifty day simple moving average of $34.41 and a 200-day simple moving average of $17.82.

Janux Therapeutics (NASDAQ:JANX) last announced its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $0.98 million. On average, sell-side analysts anticipate that Janux Therapeutics will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Janux Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of JANX. Nisa Investment Advisors LLC lifted its position in Janux Therapeutics by 10,740.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the company’s stock worth $29,000 after acquiring an additional 2,685 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Janux Therapeutics by 149.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,344 shares of the company’s stock worth $40,000 after acquiring an additional 2,003 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Janux Therapeutics during the 4th quarter worth approximately $57,000. Barclays PLC lifted its position in Janux Therapeutics by 533.0% during the 4th quarter. Barclays PLC now owns 4,608 shares of the company’s stock worth $61,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Janux Therapeutics by 935.2% during the 2nd quarter. Citigroup Inc. now owns 5,787 shares of the company’s stock worth $69,000 after acquiring an additional 5,228 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

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.