Zacks Investment Research downgraded shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a hold rating to a sell rating in a research note 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.”
Other research analysts have also issued research reports about the company. Vetr lowered Juno Therapeutics from a hold rating to a sell rating and set a $28.47 price objective on the stock. in a report on Monday, August 7th. Wells Fargo & Company restated an outperform rating and issued a $54.00 price objective (up previously from $35.00) on shares of Juno Therapeutics in a report on Tuesday, September 5th. Maxim Group restated a buy rating and issued a $56.00 price objective on shares of Juno Therapeutics in a report on Thursday, November 2nd. Goldman Sachs Group Inc reaffirmed a neutral rating and issued a $44.00 target price on shares of Juno Therapeutics in a research note on Friday, October 6th. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $59.00 target price on shares of Juno Therapeutics in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $45.48.
Juno Therapeutics (NASDAQ:JUNO) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Juno Therapeutics had a negative return on equity of 32.54% and a negative net margin of 332.05%. The firm had revenue of $44.80 million for the quarter, compared to analyst estimates of $18.12 million. During the same quarter last year, the firm posted ($0.57) EPS. The business’s revenue was up 115.4% on a year-over-year basis. equities analysts forecast that Juno Therapeutics will post -4.02 earnings per share for the current year.
In other news, EVP Robert Azelby sold 6,666 shares of Juno Therapeutics stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $54.95, for a total value of $366,296.70. Following the completion of the transaction, the executive vice president now owns 79,998 shares in the company, valued at approximately $4,395,890.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Klausner sold 12,000 shares of Juno Therapeutics stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $42.66, for a total value of $511,920.00. Following the completion of the transaction, the director now owns 783,536 shares of the company’s stock, valued at approximately $33,425,645.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,670 shares of company stock valued at $3,553,777. 15.26% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in JUNO. UBS Asset Management Americas Inc. lifted its stake in Juno Therapeutics by 76.4% during the first quarter. UBS Asset Management Americas Inc. now owns 29,900 shares of the biopharmaceutical company’s stock worth $663,000 after purchasing an additional 12,947 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Juno Therapeutics by 88.6% during the first quarter. Parametric Portfolio Associates LLC now owns 39,826 shares of the biopharmaceutical company’s stock worth $884,000 after purchasing an additional 18,713 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Juno Therapeutics by 2,185.8% during the first quarter. JPMorgan Chase & Co. now owns 62,746 shares of the biopharmaceutical company’s stock worth $1,393,000 after buying an additional 60,001 shares during the period. Teachers Advisors LLC lifted its position in Juno Therapeutics by 5.8% during the first quarter. Teachers Advisors LLC now owns 64,365 shares of the biopharmaceutical company’s stock worth $1,428,000 after buying an additional 3,531 shares during the period. Finally, Legal & General Group Plc lifted its position in Juno Therapeutics by 220.6% during the first quarter. Legal & General Group Plc now owns 25,858 shares of the biopharmaceutical company’s stock worth $574,000 after buying an additional 17,792 shares during the period. Institutional investors and hedge funds own 66.96% of the company’s stock.
About Juno Therapeutics
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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