Guggenheim Initiates Coverage on Janux Therapeutics with Buy Rating and $42.00 Target

Janux Therapeutics Inc (JANX) received a new rating from Guggenheim analyst Kelsey Goodwin, who initiated coverage with a Buy rating and set a price target of $42.00. Goodwin has a 4-star analyst rating with a 36.4% average return and 68.42% success rate. Additionally, Bank of America Securities's Alec Stranahan also gave Janux Therapeutics a Buy rating, while TR | OpenAI reiterated a Hold rating. The company reported a quarterly GAAP net loss of $33.86 million in its latest earnings release.

Janux Therapeutics Inc. (JANX), a clinical-stage biopharmaceutical company, has received a new rating from Guggenheim analyst Kelsey Goodwin, who initiated coverage with a Buy rating and set a price target of $42.00. Goodwin, known for her 4-star analyst rating with a 36.4% average return and 68.42% success rate, is optimistic about Janux's prospects [3].

Additionally, Bank of America Securities' Alec Stranahan also gave Janux Therapeutics a Buy rating. TR | OpenAI, however, reiterated a Hold rating. Despite these ratings, Janux reported a quarterly GAAP net loss of $33.86 million in its latest earnings release [3].

The company has been making strides in the immunotherapy space, with its Tumor Activated T Cell Engager (TRACTr) platform showing promise in treating cancer. Janux's collaboration with Merck & Co. Inc. (NYSE:MRK) has been instrumental in this progress, with the first patient being dosed in a lead program in August 2024, triggering a $10 million milestone payment [1].

Piper Sandler, another research firm, initiated coverage on Janux with an Overweight rating and a price target of $42.00, noting the company's differentiated mCRPC treatment program, JANX007 [2]. Raymond James also initiated coverage with an Outperform rating and a price target of $65.00, highlighting promising preliminary results for JANX007 [2].

Janux's stock has seen a pullback due to competitor clinical data and the completion of JANX007 dose escalation, but Piper Sandler views the current stock price as an attractive entry point for investors [2]. The company is set to provide a clinical update later this year, which could further influence investor sentiment.

In other developments, Janux held its 2025 Annual Meeting of Stockholders, where several key proposals were voted on, including the election of new Class I directors and the approval of executive compensation [2].

References:
[1] https://finance.yahoo.com/news/janux-therapeutics-receives-10m-milestone-034101934.html
[2] https://www.investing.com/news/analyst-ratings/piper-sandler-initiates-janux-therapeutics-stock-with-overweight-rating-93CH-4199739
[3] https://www.nasdaq.com/market-activity/stocks/janx/earnings