Juno Therapeutics, Inc. (JUNO) Price Target Increased to $27.00 by Analysts at Morgan Stanley
Juno Therapeutics, Inc. (NASDAQ:JUNO) had its price target raised by investment analysts at Morgan Stanley from $26.00 to $27.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 9.64% from the company’s previous close.
JUNO has been the subject of a number of other research reports. Zacks Investment Research cut shares of Juno Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. FBR & Co reissued a “hold” rating on shares of Juno Therapeutics in a research report on Thursday, May 18th. Vetr cut shares of Juno Therapeutics from a “buy” rating to a “hold” rating and set a $28.85 target price for the company. in a research report on Monday, June 26th. Wedbush reissued a “neutral” rating and set a $24.00 target price on shares of Juno Therapeutics in a research report on Friday, May 5th. Finally, BidaskClub raised shares of Juno Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.86.
Shares of Juno Therapeutics (JUNO) traded up 1.64% during midday trading on Monday, hitting $30.37. 691,828 shares of the company traded hands. Juno Therapeutics has a 52 week low of $17.52 and a 52 week high of $35.04. The stock’s market capitalization is $3.16 billion. The company has a 50-day moving average price of $27.95 and a 200-day moving average price of $24.15.
Juno Therapeutics (NASDAQ:JUNO) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by $0.24. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 27.10%. The firm had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $15.59 million. During the same period in the previous year, the company earned ($0.64) EPS. The company’s revenue was down 22.8% on a year-over-year basis. Analysts anticipate that Juno Therapeutics will post ($2.98) earnings per share for the current fiscal year.
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In other news, major shareholder Douglas K. Bratton sold 8,000,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $27.00, for a total value of $216,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Klausner sold 24,000 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $29.39, for a total transaction of $705,360.00. Following the completion of the sale, the director now owns 824,985 shares in the company, valued at approximately $24,246,309.15. The disclosure for this sale can be found here. Insiders sold 8,041,500 shares of company stock worth $217,230,360 in the last quarter. Company insiders own 15.26% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 in the last quarter. Jennison Associates LLC acquired a new position in shares of Juno Therapeutics during the second quarter worth about $22,689,000. Norges Bank acquired a new position in shares of Juno Therapeutics during the fourth quarter worth about $13,993,000. First Trust Advisors LP increased its position in shares of Juno Therapeutics by 47.1% in the first quarter. First Trust Advisors LP now owns 1,377,667 shares of the biopharmaceutical company’s stock worth $30,570,000 after buying an additional 440,984 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Juno Therapeutics during the second quarter worth about $9,693,000. Hedge funds and other institutional investors own 64.60% of the company’s stock.
Juno Therapeutics Company Profile
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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