Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $5.00 price objective on the stock.
According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “
A number of other equities analysts have also recently issued reports on JNCE. Raymond James reduced their target price on Jounce Therapeutics from $13.00 to $12.00 and set an outperform rating on the stock in a report on Tuesday, October 23rd. Cowen reissued a hold rating on shares of Jounce Therapeutics in a research note on Tuesday, November 13th. JPMorgan Chase & Co. lowered shares of Jounce Therapeutics from a neutral rating to an underweight rating in a research note on Tuesday, November 13th. Finally, HC Wainwright set a $13.00 price objective on shares of Jounce Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $11.67.
NASDAQ:JNCE opened at $4.33 on Tuesday. Jounce Therapeutics has a 12-month low of $2.66 and a 12-month high of $29.25. The firm has a market capitalization of $153.69 million, a PE ratio of -7.60 and a beta of 3.80.
Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Tuesday, November 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.11. Jounce Therapeutics had a negative return on equity of 29.58% and a negative net margin of 59.74%. The firm had revenue of $14.53 million for the quarter, compared to analysts’ expectations of $12.80 million. On average, research analysts anticipate that Jounce Therapeutics will post -1.13 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of JNCE. Creative Planning bought a new stake in Jounce Therapeutics in the 3rd quarter valued at approximately $143,000. BlackRock Inc. raised its holdings in Jounce Therapeutics by 22.2% during the second quarter. BlackRock Inc. now owns 1,394,905 shares of the company’s stock worth $10,684,000 after acquiring an additional 253,120 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Jounce Therapeutics by 20.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 47,951 shares of the company’s stock worth $368,000 after acquiring an additional 8,103 shares in the last quarter. Millennium Management LLC raised its holdings in Jounce Therapeutics by 91.6% during the second quarter. Millennium Management LLC now owns 679,177 shares of the company’s stock worth $5,202,000 after acquiring an additional 324,681 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Jounce Therapeutics during the third quarter worth about $677,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.
About Jounce Therapeutics
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
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