Janux Therapeutics price target raised to $70 from $63 at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth raised the firm’s price target on Janux Therapeutics (JANX) to $70 from $63 and keeps a Buy rating on the shares after the company provided a clinical data update from the ongoing Phase 1 Study evaluating the PSMA-targeting tumor-activated T-cell engager JANX007 to treat metastatic castration-resistant prostate cancer. JANX007 stacks up well against the competition, the analyst tells investors in a research note. The firm increased its probability of launch for JANX007to 26% from 20%. It says treatment with JANX007 exhibited early indications of antitumor activity with confirmed and unconfirmed partial responses in four of eight of evaluable patients for an overall response rate of 50% and stable disease reported in one additional patient.