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Investing.com - Truist Securities has reiterated a Buy rating and $100.00 price target on Janux Therapeutics (NASDAQ:JANX) stock, following positive updates on the company’s JANX007 treatment. The biotech firm, currently valued at $1.04 billion with shares trading at $17.43, appears undervalued according to InvestingPro analysis.
The latest update from JANX007 demonstrates success with its refined dosing and cytokine release syndrome (CRS) mitigation strategy, showing predominantly Grade 1 CRS in approximately 70% of cases and reduced Grade 2 events compared to previous updates.
Patients receiving the treatment exhibited robust and durable prostate-specific antigen (PSA) responses, with PSA50 at 86%, PSA90 at 54%, and median progression-free survival (mPFS) of 8.9 months on a more optimized schedule.
The efficacy data remains competitive with peer treatments such as Johnson & Johnson’s pasritamig (7.85 months radiographic progression-free survival) and Amgen’s xaluritamig (7.8 months radiographic progression-free survival).
Truist Securities views the post-market selloff as overblown, noting that the update primarily reflects process optimization rather than mature efficacy data, with JANX007 still in early Phase 1 development and a clear strategy established for later-stage development. The stock’s recent volatility (Beta of 2.82) is evident in its trading near 52-week lows despite analyst targets ranging from $25 to $200. InvestingPro data shows the company holds more cash than debt, providing financial stability during this development phase.
In other recent news, Janux Therapeutics has seen several adjustments in its stock price targets following updates on its cancer treatment, JANX007. UBS has maintained its Buy rating with a $57 price target, despite disappointing clinical trial data for JANX007 in metastatic castration-resistant prostate cancer. Cantor Fitzgerald also lowered its price target to $150 from $200 but continues to rate the stock as Overweight. H.C. Wainwright reduced its price target to $45, maintaining a Buy rating, after interim results led to significant market reactions. BofA Securities revised its price target to $49, keeping a Buy rating, and noted the drug’s potential survival benefits over Pluvicto in certain patients. Stifel adjusted its target to $38, highlighting a clear strategy for managing cytokine release syndrome and increased confidence in the drug’s progression-free survival outcomes. These recent developments reflect a mixed but cautiously optimistic outlook from analysts regarding Janux’s ongoing clinical trials.
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