Zacks: Jounce Therapeutics, Inc. (JNCE) Given Consensus Recommendation of “Strong Buy” by Brokerages
Shares of Jounce Therapeutics, Inc. (NASDAQ:JNCE) have been given an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price target of $30.00 for the company and are anticipating that the company will post ($0.25) EPS for the current quarter, according to Zacks. Zacks has also assigned Jounce Therapeutics an industry rank of 97 out of 265 based on the ratings given to its competitors.
A number of analysts recently weighed in on JNCE shares. Zacks Investment Research lowered shares of Jounce Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Robert W. Baird restated a “buy” rating and set a $30.00 target price on shares of Jounce Therapeutics in a research note on Friday.
Shares of Jounce Therapeutics (JNCE) traded up $0.24 on Friday, hitting $14.77. 76,300 shares of the stock traded hands, compared to its average volume of 158,646. Jounce Therapeutics has a 1-year low of $11.05 and a 1-year high of $29.29.
Jounce Therapeutics (NASDAQ:JNCE) last released its earnings results on Wednesday, August 9th. The company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. The firm had revenue of $20.29 million for the quarter, compared to analysts’ expectations of $19.94 million. During the same quarter in the previous year, the company posted ($7.23) earnings per share. research analysts expect that Jounce Therapeutics will post -0.73 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Jounce Therapeutics during the second quarter worth $2,359,000. Vanguard Group Inc. lifted its holdings in shares of Jounce Therapeutics by 123.8% during the second quarter. Vanguard Group Inc. now owns 255,060 shares of the company’s stock worth $3,578,000 after purchasing an additional 141,096 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Jounce Therapeutics during the first quarter worth $2,354,000. Conning Inc. acquired a new stake in shares of Jounce Therapeutics during the second quarter worth $1,299,000. Finally, Fosun International Ltd acquired a new stake in shares of Jounce Therapeutics during the second quarter worth $1,456,000. Institutional investors and hedge funds own 44.34% 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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