J.P. Morgan Maintains a Hold Rating on Juno Therapeutics

By Ryan Adsit

In a report released yesterday, Cory Kasimov from J.P. Morgan maintained a Hold rating on Juno Therapeutics (NASDAQ: JUNO), with a price target of $34. The company’s shares closed yesterday at $20.05, close to its 52-week low of $19.41.

According to TipRanks.com, Kasimov is ranked 0 out of 5 stars with an average return of -11.3% and a 31.8% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Karyopharm Therapeutics, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Juno Therapeutics is Moderate Buy and the average price target is $36, representing a 79.6% upside.

In a report issued on November 25, SunTrust Robinson also downgraded the stock to Hold with a $25 price target.

Based on Juno Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $20.83 million and GAAP net loss of $56.9 million. In comparison, last year the company earned revenue of $1.6 million and had a GAAP net loss of $23.24 million.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JUNO in relation to earlier this year. Most recently, in March 2016, Anthony Evnin, a Director at JUNO bought 8,000 shares for a total of $292,599.

Juno Therapeutics, Inc. operates as a biopharmaceutical company, which focuses on re-engaging the body’s immune system to revolutionize the treatment of cancer. It platforms include chimeric antigen receptors and T-cell receptors. The chimeric antigen receptors technology directs T-cells to recognize cancer cells based on expression of specific cell surface proteins. The T-cell receptors technology provides the T-cells with a specific T-cell receptor that recognizes protein fragments derived from either intracellular or extracellular proteins. The company was founded by Hans E. Bishop, Lawrence Corey, Richard D. Klausner and Robert T. Nelsen on August 5, 2013 and is headquartered in Seattle, WA.