Juno Therapeutics, Inc. (JUNO) Announces Earnings Results, Beats Estimates By $0.07 EPS
Juno Therapeutics, Inc. (NASDAQ:JUNO) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07, Bloomberg Earnings reports. The firm had revenue of $44.80 million during the quarter, compared to the consensus estimate of $18.12 million. Juno Therapeutics had a negative return on equity of 27.10% and a negative net margin of 354.36%. Juno Therapeutics’s revenue for the quarter was up 115.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.57) earnings per share.
JUNO has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target (up previously from $27.00) on shares of Juno Therapeutics in a report on Friday, October 6th. Cowen and Company reissued a “buy” rating and issued a $49.00 price target on shares of Juno Therapeutics in a report on Friday, October 27th. Vetr raised Juno Therapeutics from a “strong sell” rating to a “sell” rating and set a $25.50 price target for the company in a report on Monday, August 14th. Zacks Investment Research downgraded Juno Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, August 28th. Finally, Raymond James Financial, Inc. raised Juno Therapeutics from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.20.
In related news, insider Sunil Agarwal sold 7,285 shares of Juno Therapeutics stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $44.76, for a total transaction of $326,076.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Bernard J. Cassidy sold 28,000 shares of Juno Therapeutics stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $44.92, for a total value of $1,257,760.00. Following the sale, the general counsel now directly owns 55,970 shares in the company, valued at $2,514,172.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,004 shares of company stock worth $3,551,561. 15.26% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Juno Therapeutics stock. The Manufacturers Life Insurance Company increased its position in shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 67.18% of the stock is owned by institutional investors.
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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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