Zacks Investment Research Downgrades Juno Therapeutics, Inc. (JUNO) to Sell

Zacks Investment Research lowered shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a hold rating to a sell rating in a report published on Tuesday, November 7th.

According to Zacks, “Juno reported narrower-than-expected loss in third-quarter 2017 with revenue beating estimates. Though Juno remains on track with its pipeline, the recent FDA approvals for Gilead’s Yescarta and Novartis’ Kymriah in the CAR T space, may pose competitive threats to its candidates once approved. Also, the company suffered a huge setback with discontinuation of the development of its candidate, JCAR015, due to toxicity witnessed in a phase II ROCKET study. On the flip side, the company’s deal with Celgene for global development and commercialization of immunotherapies is encouraging. Despite competition, the company’s targeted, cancer immunotherapy is a highly lucrative area as these therapies have potential to change the treatment paradigm for cancer. Shares of the company have also outperformed the industry in a year.”

A number of other brokerages have also recently commented on JUNO. Vetr upgraded shares of Juno Therapeutics from a hold rating to a buy rating and set a $28.85 price target for the company in a research note on Monday, July 17th. BidaskClub cut shares of Juno Therapeutics from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Maxim Group reiterated a buy rating and issued a $56.00 price target (up previously from $34.00) on shares of Juno Therapeutics in a research note on Monday, October 9th. Cowen and Company reissued a buy rating and issued a $49.00 price objective on shares of Juno Therapeutics in a research report on Friday, October 27th. Finally, Citigroup Inc. reaffirmed a buy rating and set a $59.00 price target on shares of Juno Therapeutics in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Juno Therapeutics has an average rating of Hold and an average target price of $44.20.

Shares of Juno Therapeutics (JUNO) traded up $0.90 during trading hours on Tuesday, reaching $58.64. 1,422,100 shares of the company’s stock traded hands, compared to its average volume of 2,059,467. Juno Therapeutics has a 1 year low of $17.52 and a 1 year high of $61.59. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01.

Juno Therapeutics (NASDAQ:JUNO) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.07. Juno Therapeutics had a negative net margin of 332.05% and a negative return on equity of 32.54%. The company had revenue of $44.80 million during the quarter, compared to the consensus estimate of $18.12 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. The firm’s revenue was up 115.4% compared to the same quarter last year. research analysts anticipate that Juno Therapeutics will post -4.02 EPS for the current year.

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In other news, General Counsel Bernard J. Cassidy sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $44.92, for a total value of $1,257,760.00. Following the sale, the general counsel now directly owns 55,970 shares in the company, valued at approximately $2,514,172.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sunil Agarwal sold 7,285 shares of Juno Therapeutics stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $44.76, for a total transaction of $326,076.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,670 shares of company stock worth $3,553,777. 15.26% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Juno Therapeutics by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,405 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 228 shares during the period. Pacad Investment Ltd. acquired a new stake in Juno Therapeutics during the 2nd quarter worth approximately $105,000. Advisor Group Inc. boosted its position in Juno Therapeutics by 141.1% during the 3rd quarter. Advisor Group Inc. now owns 2,459 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,439 shares during the period. QS Investors LLC acquired a new stake in Juno Therapeutics during the 2nd quarter worth approximately $135,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Juno Therapeutics by 27,376.9% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 3,572 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 3,559 shares during the period. Institutional investors and hedge funds own 66.96% of the company’s stock.

Juno Therapeutics Company Profile

Juno Therapeutics, Inc (Juno) is a biopharmaceutical company, which is focused on developing cellular immunotherapies for the treatment of cancer. The Company is developing cell-based cancer immunotherapies based on its chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies to genetically engineer T cells to recognize and kill cancer cells.

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