Maxim Group Reiterates “$56.00” Price Target for Juno Therapeutics (JUNO)
Juno Therapeutics (NASDAQ:JUNO) has been given a $56.00 price objective by equities research analysts at Maxim Group in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price objective indicates a potential upside of 22.40% from the stock’s previous close.
The analysts wrote, “The American Society of Hematology (ASH) is now over, and while we saw bluebird’s (BLUE – $190.95 – Hold) valuation rise to over $9B on strong data in CAR-T and gene therapy, Juno’s valuation has seen a retracement from its pre- ASH peak of $7B, to $5B on what is incremental data for lead CAR candidate JCAR017.””
Several other research analysts also recently issued reports on the company. Raymond James Financial reaffirmed a “buy” rating on shares of Juno Therapeutics in a research note on Monday. Wells Fargo & Company downgraded Juno Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Zacks Investment Research downgraded Juno Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Cowen reaffirmed a “buy” rating on shares of Juno Therapeutics in a research note on Friday, November 3rd. Finally, Leerink Swann reaffirmed an “in-line” rating and set a $56.00 price target (up previously from $34.00) on shares of Juno Therapeutics in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Juno Therapeutics has a consensus rating of “Hold” and an average target price of $45.48.
Shares of Juno Therapeutics (NASDAQ JUNO) opened at $45.75 on Wednesday. Juno Therapeutics has a 1 year low of $17.52 and a 1 year high of $63.45. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01.
Juno Therapeutics (NASDAQ:JUNO) last released its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. The business 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 32.54% and a negative net margin of 332.05%. The business’s revenue was up 115.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.57) EPS. equities analysts expect that Juno Therapeutics will post -4.02 earnings per share for the current year.
In related news, EVP Robert Azelby sold 6,666 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $54.95, for a total value of $366,296.70. Following the completion of the transaction, the executive vice president now owns 79,998 shares of the company’s stock, valued at approximately $4,395,890.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sunil Agarwal sold 7,285 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $44.76, for a total transaction of $326,076.60. The disclosure for this sale can be found here. Insiders sold a total of 41,951 shares of company stock valued at $1,950,133 in the last three months. 15.08% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Boyer & Corporon Wealth Management LLC increased its stake in shares of Juno Therapeutics by 0.9% during the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 12,579 shares of the biopharmaceutical company’s stock valued at $484,000 after acquiring an additional 115 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Juno Therapeutics by 1.8% during the 2nd quarter. Utah Retirement Systems now owns 11,600 shares of the biopharmaceutical company’s stock valued at $347,000 after acquiring an additional 200 shares during the last quarter. State of Wisconsin Investment Board increased its stake in shares of Juno Therapeutics by 1.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 12,562 shares of the biopharmaceutical company’s stock valued at $375,000 after acquiring an additional 210 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Juno Therapeutics by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,405 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 228 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Juno Therapeutics by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 5,470 shares of the biopharmaceutical company’s stock valued at $210,000 after acquiring an additional 306 shares during the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.
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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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