Janux Therapeutics initiated with an Overweight at Barclays

Barclays initiated coverage of Janux Therapeutics (JANX) with an Overweight rating and $47 price target Janux has shown highly encouraging clinical data in late-line metastatic castration-resistant prostate cancer, with Progression-Free Survival and Prostate Specific Antigen reduction responses outperforming other late-line mCRPC options and competitive with standard of care options in earlier treatment settings, the analyst tells investors in a research note. Given the performance of JANX007 to date, Barclays views the earlier line treatment of prostate cancer with JANX007 as a logical move given its clinical efficacy to date and the economics associated with a large indication like prostate cancer, the firm added.