BofA lowered the firm’s price target on Janux Therapeutics (JANX) to $49 from $58 and keeps a Buy rating on the shares after the company announced updated interim data for JANX007 from the Phase 1 clinical program in patients with mCRPC. The firm still thinks ‘007 is “a viable drug with a reasonable safety profile and the potential to show a benefit in OS over Pluvicto,” says the analyst, who views the 43% move lower in shares as “overdone” despite calling the latest Phase 1 update “admittedly mixed.” The firm lowers its price target as it pushes back expectations for a JANX007 launch to 2028 and reduces its peak market share estimate to 15% from 20%.
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