Janux Therapeutics price target lowered to $26 from $30 at Piper Sandler

Piper Sandler lowered the firm’s price target on Janux Therapeutics (JANX) to $26 from $30 and keeps an Overweight rating on the shares. The firm notes the company reported Q1 earnings and provided a corporate update that was largely in line with prior guidance. Following the recent discontinuation of the JANX008 program, and the updated guidance that the additional JANX007 clinical data will be coming in the first half of 2027, there is now just one clinical update still planned for this year, namely JANX011 initial clinical data from the healthy volunteer study. Investor focus remains on JANX007 as they look for a signal that it could be a competitive product in the evolving mCRPC space.