Swayampakula Ramakanth, an analyst from H.C. Wainwright, maintained the Buy rating on Janux Therapeutics Inc (JANX – Research Report). The associated price target is $70.00.
Swayampakula Ramakanth’s rating is based on several promising developments at Janux Therapeutics Inc. The company is on track to present data from its Phase 1 studies of JANX-007 and JANX-008 in 2025. These studies target various cancers, including prostate cancer and multiple solid tumors, and the strategy to wait for mature data could provide a clearer picture of the drugs’ potential. Additionally, Janux plans to host an R&D day in 2025 to introduce new pipeline programs, supported by a strong cash position, which could lead to significant clinical advancements.
Financially, Janux reported a solid cash reserve of $1.03 billion at the end of 4Q24, which is expected to sustain operations in the near future. Despite reporting no revenue and a net loss, the company’s financial health appears robust enough to support its ambitious research and development plans. The Buy rating is further supported by a risk-adjusted net present value analysis, suggesting a 12-month price target of $70 per share, based on projected future revenues from Janux’s TRACTr and TRACIr candidates.
In another report released on February 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $103.00 price target.