Robert W. Baird Downgrades Jounce Therapeutics (NASDAQ:JNCE) to Neutral

Jounce Therapeutics (NASDAQ:JNCEGet Rating) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $7.00 target price on the stock, down from their previous target price of $15.00. Robert W. Baird’s price target suggests a potential upside of 33.08% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Jounce Therapeutics in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research upgraded shares of Jounce Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday. Raymond James upgraded shares of Jounce Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $15.00 to $20.00 in a research report on Friday, May 6th. Cowen upgraded shares of Jounce Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, February 4th. Finally, Sumitomo Mitsui Financial Group began coverage on shares of Jounce Therapeutics in a research note on Wednesday, March 16th. They set an “outperform” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $13.35.

JNCE stock opened at $5.26 on Wednesday. Jounce Therapeutics has a 12 month low of $4.78 and a 12 month high of $9.81. The firm has a market cap of $271.81 million, a PE ratio of -2.66 and a beta of 1.12. The firm has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $7.37.

Jounce Therapeutics (NASDAQ:JNCEGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.15). During the same quarter last year, the business earned ($0.58) EPS. Equities analysts forecast that Jounce Therapeutics will post -1.91 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Jounce Therapeutics by 12.3% during the 3rd quarter. Invesco Ltd. now owns 12,518 shares of the company’s stock worth $93,000 after acquiring an additional 1,370 shares during the period. Citigroup Inc. lifted its holdings in shares of Jounce Therapeutics by 36.3% during the 3rd quarter. Citigroup Inc. now owns 6,369 shares of the company’s stock worth $47,000 after acquiring an additional 1,696 shares during the period. Royal Bank of Canada lifted its holdings in shares of Jounce Therapeutics by 77.2% during the 3rd quarter. Royal Bank of Canada now owns 4,533 shares of the company’s stock worth $34,000 after acquiring an additional 1,975 shares during the period. Rhumbline Advisers lifted its holdings in shares of Jounce Therapeutics by 5.0% during the 4th quarter. Rhumbline Advisers now owns 44,718 shares of the company’s stock worth $373,000 after acquiring an additional 2,145 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Jounce Therapeutics during the 1st quarter worth about $26,000. 78.20% of the stock is owned by hedge funds and other institutional investors.

About Jounce Therapeutics (Get Rating)

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company develops vopratelimab, a clinical-stage monoclonal antibody, which is in Phase II clinical trial that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors.

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Analyst Recommendations for Jounce Therapeutics (NASDAQ:JNCE)

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