Jounce Therapeutics (JNCE) Upgraded at Zacks Investment Research
Jounce Therapeutics (NASDAQ:JNCE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $14.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.48% from the company’s previous close.
According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “
A number of other research analysts have also recently weighed in on JNCE. Robert W. Baird reiterated an “outperform” rating and issued a $30.00 target price on shares of Jounce Therapeutics in a report on Monday, September 18th. JPMorgan Chase & Co. set a $28.00 price objective on Jounce Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Five research analysts have rated the stock with a buy rating, Jounce Therapeutics has an average rating of “Buy” and a consensus target price of $24.00.
Jounce Therapeutics (NASDAQ:JNCE) opened at $13.40 on Wednesday. Jounce Therapeutics has a fifty-two week low of $11.05 and a fifty-two week high of $29.29. The firm has a market capitalization of $411.13 and a price-to-earnings ratio of -63.81.
Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Monday, November 13th. The company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.12. Jounce Therapeutics had a negative return on equity of 1.39% and a negative net margin of 2.03%. The firm had revenue of $18.10 million for the quarter, compared to analysts’ expectations of $20.00 million. The business’s revenue was up 7.1% compared to the same quarter last year. research analysts expect that Jounce Therapeutics will post -0.86 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of JNCE. Macquarie Group Ltd. acquired a new position in shares of Jounce Therapeutics during the third quarter worth about $124,000. American International Group Inc. lifted its stake in shares of Jounce Therapeutics by 132.2% during the third quarter. American International Group Inc. now owns 9,559 shares of the company’s stock worth $149,000 after purchasing an additional 5,442 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Jounce Therapeutics by 26.4% during the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after purchasing an additional 2,347 shares in the last quarter. Ark Investment Management LLC lifted its stake in shares of Jounce Therapeutics by 558.9% during the second quarter. Ark Investment Management LLC now owns 11,932 shares of the company’s stock worth $167,000 after purchasing an additional 10,121 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its stake in shares of Jounce Therapeutics by 203.3% during the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after purchasing an additional 8,007 shares in the last quarter. Institutional investors own 47.51% of the company’s stock.
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Jounce Therapeutics Company Profile
Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.
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