Piper starts Janux Therapeutics with an Overweight on ‘best-in-class’ potential

As previously reported, Piper Sandler initiated coverage of Janux Therapeutics (JANX) with an Overweight rating and $42 price target While noting that investor sentiment has waned over the course of 2025 following the announcement of completion of the JANX007 dose escalation and emergence of competitor clinical data, it continues to think JANX007 is “a differentiated, potentially best-in-class program” in metastatic castration-resistant prostate cancer. The firm views the recent stock pullback offering “an attractive entry point” ahead of clinical updates due later this year, the analyst added.