Janux Therapeutics price target raised to $115 from $70 at Stifel

Stifel analyst Bradley Canino raised the firm’s price target on Janux Therapeutics (JANX) to $115 from $70 and keeps a Buy rating on the shares. The JANX007 Phase 1 update leads the firm to increase its views of the odds of success for second-line and third-line metastatic castration-resistant prostate cancer to 50% and 65%, up from 35% and 50%, respectively, the analyst tells investors. The firm now models risk-adjusted sales of $1.7B from these two opportunities, or $3B unadjusted, the analyst noted.