Janux Therapeutics Inc, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Justin Zelin from BTIG maintained a Buy rating on the stock and has a $100.00 price target.
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Justin Zelin has given his Buy rating due to a combination of factors including the promising Phase 1 expansion data for JANX007, which aligned with expectations on efficacy and showed improved safety profiles. The data demonstrated a median rPFS of 7.9-8.9 months and a RECIST ORR of 30%, with a notable PSA50 of 73%. The safety profile was favorable, with most CRS events being Grade 1/2 and limited to the first cycle, supporting the feasibility of outpatient treatment and community oncology use.
Despite a significant drop in share price, Zelin views this as a market dislocation rather than a fundamental deterioration. The Q2W dosing regimen maintained durability with fewer high-grade TRAEs, making it a preferred option for maintenance therapy. Additionally, the potential for further PSA reductions in taxane-naive patients suggests durability gains in earlier treatment lines, reinforcing the Buy rating.
According to TipRanks, Zelin is a 4-star analyst with an average return of 8.0% and a 38.08% success rate. Zelin covers the Healthcare sector, focusing on stocks such as NovaBridge Biosciences, Viking Therapeutics, and IDEAYA Biosciences.