William Blair analyst Matt Phipps has reiterated their bullish stance on JANX stock, giving a Buy rating on July 17.
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Matt Phipps has given his Buy rating due to a combination of factors, primarily focusing on Janux Therapeutics Inc’s innovative preclinical programs and their potential impact. The company recently unveiled three novel preclinical programs, which include a PSMAxCD28 tumor-activated immunomodulator, a TROP2xCD3 tumor-activated T-cell engager, and a CD19-targeted molecule. These programs underscore Janux’s strategic approach to leveraging their tumor activation platform to address a variety of tumor-associated antigens, particularly those that pose safety challenges when targeted with conventional T-cell engagers.
Furthermore, the preclinical data from the CD19-ARM program is particularly noteworthy, as it demonstrates a unique T-cell phenotype expansion and cytokine release profile. This could attract significant interest from investors if these results are confirmed in healthy volunteers. Additionally, the anticipated clinical updates for JANX007 in the latter half of 2025 are expected to be a crucial catalyst for the company’s stock, as they may provide further evidence of high PSA response rates and data on durability. These developments collectively contribute to the positive outlook and justify the Buy rating.