JonesResearch lowered the firm’s price target on Janux Therapeutics (JANX) to $28 from $50 and keeps a Buy rating on the shares after the company announced the discontinuation of JANX008. Janux will now be prioritizing development of its other assets, including JANX00, JANX014 and JANX013 in prostate cancer, as well as JANX011 in autoimmune diseases, the analyst tells investors in a research note. The firm says that with the shares currently trading at a zero to negative enterprise value, investor expectations are very low. Any positive data “could result in a significant stock rebound,” Jones contends.
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