Juno Therapeutics, Inc. (JUNO) Stock Rating Reaffirmed by Cowen and Company
Juno Therapeutics, Inc. (NASDAQ:JUNO)‘s stock had its “buy” rating restated by research analysts at Cowen and Company in a report issued on Friday.
A number of other brokerages have also recently weighed in on JUNO. Wedbush upgraded shares of Juno Therapeutics from a “neutral” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Tuesday, August 29th. Wells Fargo & Company restated an “outperform” rating and set a $54.00 price objective (up from $35.00) on shares of Juno Therapeutics in a research note on Tuesday, September 5th. Raymond James Financial, Inc. upgraded shares of Juno Therapeutics from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 29th. Standpoint Research restated a “reduce” rating on shares of Juno Therapeutics in a research note on Thursday, August 31st. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $44.00 price objective on shares of Juno Therapeutics in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.20.
Juno Therapeutics (JUNO) traded up $10.17 during mid-day trading on Friday, reaching $58.48. The company’s stock had a trading volume of 4,919,336 shares, compared to its average volume of 2,209,417.
Juno Therapeutics (NASDAQ:JUNO) last posted its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Juno Therapeutics had a negative return on equity of 32.54% and a negative net margin of 332.05%. The company had revenue of $44.80 million for the quarter, compared to analysts’ expectations of $18.12 million. During the same period last year, the business posted ($0.57) earnings per share. The firm’s quarterly revenue was up 115.4% compared to the same quarter last year. sell-side analysts expect that Juno Therapeutics will post -3.53 EPS for the current fiscal year.
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In related news, EVP Robert Azelby sold 12,850 shares of Juno Therapeutics stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $44.95, for a total value of $577,607.50. Following the transaction, the executive vice president now owns 37,439 shares of the company’s stock, valued at approximately $1,682,883.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $326,076.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,004 shares of company stock worth $3,551,561. 15.26% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Juno Therapeutics by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,405 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 228 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Juno Therapeutics in the 2nd quarter worth about $105,000. QS Investors LLC purchased a new position in Juno Therapeutics in the 2nd quarter worth about $135,000. Macquarie Group Ltd. purchased a new position in Juno Therapeutics during the 2nd quarter valued at about $248,000. Finally, Leisure Capital Management purchased a new position in Juno Therapeutics during the 2nd quarter valued at about $255,000. 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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