Barclays Forecasts Strong Price Appreciation for Janux Therapeutics (NASDAQ:JANX) Stock

Janux Therapeutics (NASDAQ:JANX) had its price objective boosted by stock analysts at Barclays from $47.00 to $48.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 81.27% from the company’s current price.

JANX has been the subject of a number of other research reports. Guggenheim assumed coverage on shares of Janux Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $72.00 price objective for the company. Truist Financial started coverage on Janux Therapeutics in a report on Wednesday, September 10th. They issued a “buy” rating and a $100.00 price target for the company. Piper Sandler began coverage on Janux Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $42.00 price objective on the stock. Raymond James Financial assumed coverage on Janux Therapeutics in a research report on Friday, July 11th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $45.00 target price on shares of Janux Therapeutics in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Janux Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $79.17.

Janux Therapeutics Stock Down 7.6%

Shares of NASDAQ:JANX opened at $26.48 on Friday. The company has a market capitalization of $1.59 billion, a P/E ratio of -15.76 and a beta of 2.83. Janux Therapeutics has a 52-week low of $21.73 and a 52-week high of $71.71. The stock’s fifty day simple moving average is $25.11 and its 200-day simple moving average is $25.24.

Janux Therapeutics (NASDAQ:JANX) last announced its earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.21. The firm had revenue of $10.00 million during the quarter, compared to analyst estimates of $3.07 million. On average, sell-side analysts anticipate that Janux Therapeutics will post -1.38 earnings per share for the current year.

Insider Activity at Janux Therapeutics

In related news, insider Andrew Hollman Meyer sold 16,665 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $30.06, for a total value of $500,949.90. Following the transaction, the insider directly owned 82,139 shares of the company’s stock, valued at approximately $2,469,098.34. This trade represents a 16.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Janux Therapeutics

A number of institutional investors have recently added to or reduced their stakes in JANX. US Bancorp DE lifted its stake in shares of Janux Therapeutics by 2,402.9% in the 1st quarter. US Bancorp DE now owns 1,727 shares of the company’s stock valued at $47,000 after purchasing an additional 1,658 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Janux Therapeutics by 704.6% in the second quarter. Osaic Holdings Inc. now owns 3,468 shares of the company’s stock valued at $80,000 after buying an additional 3,037 shares during the period. Virtus Investment Advisers LLC lifted its position in Janux Therapeutics by 37.9% during the second quarter. Virtus Investment Advisers LLC now owns 3,679 shares of the company’s stock valued at $85,000 after buying an additional 1,011 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Janux Therapeutics by 175.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,928 shares of the company’s stock valued at $91,000 after buying an additional 2,502 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Janux Therapeutics by 25.6% during the second quarter. Ameritas Investment Partners Inc. now owns 4,020 shares of the company’s stock worth $93,000 after buying an additional 820 shares during the period. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Janux Therapeutics Company Profile

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.