Janux Therapeutics downgraded to Neutral from Buy at UBS

UBS downgraded Janux Therapeutics (JANX) to Neutral from Buy with a price target of $15, down from $57. The firm cites a lack of near-term stock-moving catalysts for the downgrade. The shares have been under pressure following the “mixed” JANX007 Phase 1a data in fifth-line metastatic prostate cancer, the analyst tells investors in a research note. After speaking with to management, UBS thinks Janux’s second half of 2026 data update will likely “incremental with limited impact on the stock.”