Janux Therapeutics, Inc. (NASDAQ:JANX) Given Average Recommendation of “Buy” by Brokerages

Janux Therapeutics, Inc. (NASDAQ:JANX) has been given an average recommendation of “Buy” by the six research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $59.60.

Several research firms recently weighed in on JANX. BTIG Research started coverage on Janux Therapeutics in a research report on Thursday, March 21st. They set a “buy” rating and a $62.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Janux Therapeutics in a research report on Tuesday, February 27th. Bank of America boosted their price objective on shares of Janux Therapeutics from $24.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Wedbush reiterated an “outperform” rating and issued a $53.00 target price on shares of Janux Therapeutics in a research report on Monday, March 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Janux Therapeutics in a report on Wednesday, March 20th. They set an “overweight” rating and a $100.00 price target on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in Janux Therapeutics by 227.1% in the third quarter. Barclays PLC now owns 17,922 shares of the company’s stock worth $181,000 after purchasing an additional 12,443 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Janux Therapeutics during the 4th quarter valued at about $57,000. FMR LLC raised its stake in shares of Janux Therapeutics by 25.5% in the 3rd quarter. FMR LLC now owns 6,351,322 shares of the company’s stock valued at $64,021,000 after acquiring an additional 1,288,526 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Janux Therapeutics by 27.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $11,592,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Janux Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 14,204 shares of the company’s stock worth $152,000 after purchasing an additional 3,602 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.

Janux Therapeutics Price Performance

Janux Therapeutics stock opened at $52.65 on Monday. The company has a market cap of $2.72 billion, a P/E ratio of -39.29 and a beta of 4.18. Janux Therapeutics has a fifty-two week low of $5.65 and a fifty-two week high of $58.69. The firm’s 50 day simple moving average is $31.14 and its 200-day simple moving average is $16.81.

Janux Therapeutics (NASDAQ:JANX) last posted its quarterly earnings data on Friday, March 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.12. The firm had revenue of $2.46 million for the quarter, compared to analysts’ expectations of $0.98 million. Janux Therapeutics had a negative net margin of 721.18% and a negative return on equity of 17.88%. On average, analysts expect that Janux Therapeutics will post -1.41 EPS for the current fiscal year.

About Janux Therapeutics

Janux Therapeutics, Inc, a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) platforms technology to treat patients suffering from cancer. The company's clinical candidates comprise JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor or EGFR-TRACTr that is in Phase 1 clinical trial for the treatment of multiple solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma.