Alec Stranahan, an analyst from Bank of America Securities, maintained the Buy rating on Janux Therapeutics Inc (JANX – Research Report). The associated price target is $65.00.
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Alec Stranahan has given his Buy rating due to a combination of factors including the promising updated progression-free survival (PFS) data for Janux Therapeutics Inc’s JANX-007. The data indicates a lengthening survival tail at target doses, suggesting a potential best-in-class profile compared to other clinical programs. This positions JANX-007 to potentially expand into earlier lines of therapy, thereby increasing its total addressable market and value.
Furthermore, the recent share price decline is seen as an attractive buying opportunity, with Janux remaining one of the top picks for investment. Despite some investor concerns about the cytokine release syndrome (CRS) mitigation strategy, the approach is expected and aligns with maintaining a low-grade safety profile. The planned expansion studies and upcoming updates in 2025 are anticipated to further bolster the platform’s potential, providing clear catalysts for future growth.
JANX’s price has also changed dramatically for the past six months – from $55.280 to $29.790, which is a -46.11% drop .