Barclays initiates Janux Therapeutics stock coverage with Overweight rating

Investing.com - Barclays initiated coverage on Janux Therapeutics (NASDAQ:JANX) with an Overweight rating and a $47.00 price target on Wednesday, representing potential upside of approximately 85% from current levels. The stock, currently trading near its 52-week low with a market capitalization of $1.4 billion, has seen a challenging year with shares down over 56% year-to-date.

The research firm cited "highly encouraging clinical data" from Janux’s treatment for metastatic castration-resistant prostate cancer (mCRPC), noting that the company’s JANX007 therapy has shown progression-free survival and PSA reduction responses that outperform other late-line mCRPC options. InvestingPro data shows the company maintains strong liquidity with a current ratio of 47, suggesting ample resources for continued clinical development.

Barclays indicated that JANX007’s performance is competitive with standard of care options in earlier treatment settings, suggesting potential for the therapy to move into earlier line treatment of prostate cancer.

The firm’s Overweight thesis relies on successful development of JANX007 in mCRPC, with Barclays emphasizing the market opportunity in this indication as a key factor.

Barclays concluded that Janux Therapeutics is "significantly undervalued" based on the clinical data observed to date and the economic potential associated with prostate cancer treatment.

In other recent news, Janux Therapeutics has attracted significant attention from several major research firms. Truist Securities initiated coverage with a Buy rating and set a price target of $100.00, highlighting Janux’s proprietary platforms, TRACTr and TRACIr, for their potential to improve safety and efficacy in T-cell engagers for solid tumors. Stifel also resumed coverage with a Buy rating and a $45.00 price target, emphasizing the company’s novel cancer treatment platform. Guggenheim joined with a Buy rating and a $72.00 price target, noting the promising early activity studies of Janux’s PSMA T cell engager therapy, JANX007, for metastatic castration-resistant prostate cancer. Piper Sandler initiated coverage with an Overweight rating and a $42.00 price target, despite acknowledging weakened investor sentiment in 2025. Lastly, Raymond James provided an Outperform rating with a $65.00 price target, citing compelling efficacy of JANX007 in higher doses for advanced prostate cancer patients. These recent developments underscore a strong interest in Janux’s innovative approaches within the oncology sector.

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