Juno Therapeutics, Inc. (JUNO) Announces Quarterly Earnings Results
Juno Therapeutics, Inc. (NASDAQ:JUNO) posted its earnings results on Wednesday. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.07, Bloomberg Earnings reports. The business had revenue of $44.80 million for the quarter, compared to analysts’ expectations of $18.12 million. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 27.10%. The business’s revenue for the quarter was up 115.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.57) EPS.
Several equities analysts have issued reports on JUNO shares. BTIG Research upgraded shares of Juno Therapeutics from a “sell” rating to a “neutral” rating in a research note on Monday, August 28th. Zacks Investment Research cut shares of Juno Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Wells Fargo & Company restated an “outperform” rating and set a $54.00 target price (up previously from $35.00) on shares of Juno Therapeutics in a research note on Tuesday, September 5th. Barclays PLC started coverage on shares of Juno Therapeutics in a research note on Wednesday, September 6th. They set an “overweight” rating and a $55.00 target price on the stock. Finally, Vetr upgraded shares of Juno Therapeutics from a “hold” rating to a “buy” rating and set a $28.85 target price on the stock in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.20.
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In other Juno Therapeutics news, insider Sunil Agarwal sold 7,285 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $44.76, for a total value of $326,076.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Azelby sold 12,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $44.95, for a total value of $577,607.50. Following the completion of the transaction, the executive vice president now directly owns 37,439 shares of the company’s stock, valued at $1,682,883.05. The disclosure for this sale can be found here. Insiders have sold 85,004 shares of company stock valued at $3,551,561 in the last ninety days. Corporate insiders own 15.26% of the company’s stock.
A hedge fund recently raised its stake in Juno Therapeutics stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,405 shares of the biopharmaceutical company’s stock after buying an additional 228 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Juno Therapeutics were worth $102,000 as of its most recent SEC filing. 67.18% of the stock is currently owned by hedge funds and other institutional investors.
About Juno Therapeutics
Juno Therapeutics, Inc (Juno) is a biopharmaceutical company, which is focused on developing cellular immunotherapies for the treatment of cancer. The Company is developing cell-based cancer immunotherapies based on its chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies to genetically engineer T cells to recognize and kill cancer cells.
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