Janux Therapeutics (JANX) PT Raised to $63 at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth raised the price target on Janux Therapeutics (NASDAQ: JANX) to $63.00 (from $50.00) while maintaining a Buy rating.

The analyst commented: "On May 7, Janux Therapeutics reported 1Q24 financial results and provided a corporate update. The company reported total revenues of approximately $1.3M and a net loss of $0.30 per share, compared to the consensus estimates of total revenues of $0.88M and a net loss of $0.33 per share. We update our model to reflect the reported financials. For 2024, we project total revenues of $3.4M and a net loss of $1.44 per share. In light of initial analysis of data from ongoing Phase 1 with JANX-008 demonstrating efficacy in NSCLC, we have included NSCLC associated revenues in our financial model. As a result, we are adjusting our 12-month price target to $63 from prior $50. We maintain our Buy rating on JANX."

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