Today: Juno Therapeutics Inc (JUNO) Given Buy Rating at Leerink Swann

Today: Juno Therapeutics Inc (JUNO) Given Buy Rating at Leerink Swann

Juno Therapeutics Inc (NASDAQ:JUNO)‘s stock had its “buy” rating reissued by equities research analysts at Leerink Swann in a research report issued to clients and investors on Monday. They presently have a $34.00 price objective on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 47.76% from the company’s previous close.

The analysts wrote, “We’re using a 12% discount rate which we think is appropriate as we use probability-weighted sales estimates for the products and believe the CELG (MP) collaboration, equity investment and ex-US opt-in to CD19 programs lower the risk profile relative to Juno’s peers. We assume the CAR-T market will be split among up to 5 competitors long-term, depending on the indication, including JUNO, KITE, NVS, CLLS, BLUE and others, pending further validation of respective products. Based on the complexity of the technology and manufacturing and the lack of regulatory path for generic versions of CAR-T products as a result of patient-specific manufacturing, we believe that CAR-T product sales are sustainable even after the loss of patent exclusivity.””

JUNO has been the topic of several other reports. Zacks Investment Research lowered Juno Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. BTIG Research initiated coverage on Juno Therapeutics in a research report on Tuesday, August 30th. They issued a “sell” rating and a $23.00 target price on the stock. Standpoint Research initiated coverage on Juno Therapeutics in a research report on Thursday, August 25th. They issued a “buy” rating and a $47.00 target price on the stock. Maxim Group dropped their target price on Juno Therapeutics from $80.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. set a $34.00 target price on Juno Therapeutics and gave the stock a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.40.

Shares of Juno Therapeutics (NASDAQ:JUNO) opened at 23.01 on Monday. The stock has a 50 day moving average price of $27.52 and a 200-day moving average price of $32.91. Juno Therapeutics has a one year low of $19.41 and a one year high of $57.82. The company’s market capitalization is $2.36 billion.

Juno Therapeutics (NASDAQ:JUNO) last issued its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by $0.05. The business earned $20.80 million during the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Juno Therapeutics’s revenue was up 1200.0% on a year-over-year basis. Equities research analysts predict that Juno Therapeutics will post ($2.54) earnings per share for the current fiscal year.

In other Juno Therapeutics news, CEO Hans Edgar Bishop sold 23,042 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $30.06, for a total value of $692,642.52. Following the completion of the transaction, the chief executive officer now owns 2,541,151 shares of the company’s stock, valued at approximately $76,386,999.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Azelby sold 12,921 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $24.14, for a total value of $311,912.94. Following the completion of the transaction, the executive vice president now directly owns 48,640 shares of the company’s stock, valued at approximately $1,174,169.60. The disclosure for this sale can be found here.

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Juno Therapeutics by 14.8% in the second quarter. Vanguard Group Inc. now owns 5,471,650 shares of the biopharmaceutical company’s stock valued at $210,331,000 after buying an additional 707,140 shares during the period. BlackRock Fund Advisors boosted its position in Juno Therapeutics by 3.4% in the third quarter. BlackRock Fund Advisors now owns 2,031,736 shares of the biopharmaceutical company’s stock valued at $60,972,000 after buying an additional 67,333 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Juno Therapeutics by 5.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,757,750 shares of the biopharmaceutical company’s stock valued at $52,750,000 after buying an additional 94,570 shares during the period. State Street Corp boosted its position in Juno Therapeutics by 36.1% in the second quarter. State Street Corp now owns 1,658,792 shares of the biopharmaceutical company’s stock valued at $63,764,000 after buying an additional 440,324 shares during the period. Finally, BB Biotech AG boosted its position in Juno Therapeutics by 7.7% in the third quarter. BB Biotech AG now owns 1,405,000 shares of the biopharmaceutical company’s stock valued at $42,164,000 after buying an additional 100,000 shares during the period.

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