Janux Therapeutics, Inc. (NASDAQ:JANX) Given Average Recommendation of “Buy” by Analysts

Janux Therapeutics, Inc. (NASDAQ:JANX) has received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $64.83.

JANX has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Wedbush upped their price objective on shares of Janux Therapeutics from $53.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 target price on shares of Janux Therapeutics in a research report on Thursday. BTIG Research started coverage on Janux Therapeutics in a research note on Thursday, March 21st. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Jonestrading began coverage on Janux Therapeutics in a research note on Tuesday, April 16th. They set a “buy” rating and a $70.00 price objective for the company.

Hedge Funds Weigh In On Janux Therapeutics

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in Janux Therapeutics by 25.5% during the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock worth $64,021,000 after buying an additional 1,288,526 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Janux Therapeutics in the first quarter worth $20,420,000. RA Capital Management L.P. increased its stake in Janux Therapeutics by 5.7% during the third quarter. RA Capital Management L.P. now owns 9,165,652 shares of the company’s stock valued at $92,390,000 after purchasing an additional 495,008 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Janux Therapeutics by 27.8% during the third 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 period. Finally, Cerity Partners LLC bought a new position in shares of Janux Therapeutics in the 4th quarter worth about $654,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

Janux Therapeutics Price Performance

NASDAQ:JANX opened at $51.94 on Friday. The business’s 50-day moving average is $45.20 and its two-hundred day moving average is $22.38. The firm has a market capitalization of $2.69 billion, a PE ratio of -38.76 and a beta of 3.87. Janux Therapeutics has a 12 month low of $5.65 and a 12 month high of $65.60.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Friday, March 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate 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 return on equity of 17.88% and a negative net margin of 721.18%. Equities analysts anticipate that Janux Therapeutics will post -1.41 EPS for the current year.

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.