Juno Therapeutics, Inc. (NASDAQ:JUNO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $32.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.74% from the company’s current price.

According to Zacks, “Juno remains on track with its pipeline candidates and continues to pursue acquisitions and licensing agreements. The company’s deal with Celgene for the global development and commercialization of immunotherapies is encouraging. Juno’s shares outperformed the Medical-Biomed/Genetics industry so far this year. However, the company recently suffered a huge setback as it discontinued the development of cancer candidate, JCAR015 due to the toxicity witnessed in a phase II ROCKET study. Moreover, increased competition in the immunotherapy space is a matter of concern for the company as several companies are looking to bring these treatments to the market. Estimates have been going up lately ahead of the company’s Q2 earnings release. The company has negative record of earnings surprises in recent quarters.”

A number of other research firms have also issued reports on JUNO. Vetr lowered Juno Therapeutics from a “strong-buy” rating to a “buy” rating and set a $25.42 target price on the stock. in a report on Monday, March 13th. Cowen and Company reaffirmed a “buy” rating and set a $36.00 price objective (down previously from $41.00) on shares of Juno Therapeutics in a report on Thursday, March 30th. Citigroup Inc. dropped their price objective on Juno Therapeutics from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, April 4th. FBR & Co dropped their price objective on Juno Therapeutics from $30.00 to $29.00 and set a “mkt perform” rating on the stock in a report on Friday, May 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Juno Therapeutics in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.81.

Shares of Juno Therapeutics (JUNO) traded down 0.92% during trading on Tuesday, hitting $27.89. 1,674,104 shares of the company traded hands. The company has a 50-day moving average of $24.94 and a 200-day moving average of $22.57. The stock’s market capitalization is $2.90 billion. Juno Therapeutics has a 52-week low of $17.52 and a 52-week high of $35.04.

Juno Therapeutics (NASDAQ:JUNO) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.70) by $0.01. The business had revenue of $19.30 million for the quarter, compared to analysts’ expectations of $16 million. Juno Therapeutics had a negative return on equity of 24.57% and a negative net margin of 288.66%. Juno Therapeutics’s revenue for the quarter was up 96.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.78) EPS. Equities analysts expect that Juno Therapeutics will post ($2.99) EPS for the current year.

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In other Juno Therapeutics news, Director Anthony B. Evnin acquired 9,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was purchased at an average price of $24.40 per share, for a total transaction of $219,600.00. Following the purchase, the director now directly owns 66,301 shares in the company, valued at $1,617,744.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Klausner sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $29.39, for a total value of $705,360.00. Following the sale, the director now owns 824,985 shares of the company’s stock, valued at approximately $24,246,309.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,500 shares of company stock worth $1,230,360. Company insiders own 15.26% of the company’s stock.

A number of large investors have recently modified their holdings of JUNO. Baillie Gifford & Co. raised its stake in shares of Juno Therapeutics by 1.2% in the first quarter. Baillie Gifford & Co. now owns 11,197,863 shares of the biopharmaceutical company’s stock worth $248,481,000 after buying an additional 135,908 shares during the period. Vanguard Group Inc. raised its stake in shares of Juno Therapeutics by 5.2% in the first quarter. Vanguard Group Inc. now owns 6,153,812 shares of the biopharmaceutical company’s stock worth $136,553,000 after buying an additional 303,912 shares during the period. BlackRock Inc. raised its stake in shares of Juno Therapeutics by 31,399.7% in the first quarter. BlackRock Inc. now owns 4,183,793 shares of the biopharmaceutical company’s stock worth $92,838,000 after buying an additional 4,170,511 shares during the period. State Street Corp raised its stake in shares of Juno Therapeutics by 16.3% in the fourth quarter. State Street Corp now owns 3,415,744 shares of the biopharmaceutical company’s stock worth $64,380,000 after buying an additional 478,044 shares during the period. Finally, BB Biotech AG raised its stake in shares of Juno Therapeutics by 16.8% in the first quarter. BB Biotech AG now owns 2,185,000 shares of the biopharmaceutical company’s stock worth $48,485,000 after buying an additional 315,000 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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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