Zacks Investment Research Upgrades Jounce Therapeutics (JNCE) to Buy

Jounce Therapeutics (NASDAQ:JNCE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $14.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential downside of 2.71% from the stock’s previous close.

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. “

Several other research analysts have also recently commented on JNCE. Robert W. Baird restated an “outperform” rating and set a $30.00 target price on shares of Jounce Therapeutics in a report on Monday, September 18th. JPMorgan Chase & Co. set a $28.00 target price on shares of Jounce Therapeutics and gave the stock a “buy” rating in a report on Monday, November 13th. Five research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $24.00.

Jounce Therapeutics (NASDAQ JNCE) traded up $0.11 during trading on Wednesday, hitting $14.39. 90,300 shares of the stock traded hands, compared to its average volume of 151,467. The firm has a market capitalization of $460.47 and a PE ratio of -68.52. Jounce Therapeutics has a 12 month low of $11.05 and a 12 month high of $29.29.

Jounce Therapeutics (NASDAQ:JNCE) last announced its earnings results on Monday, November 13th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. Jounce Therapeutics had a negative net margin of 2.03% and a negative return on equity of 1.39%. The business had revenue of $18.10 million during the quarter, compared to analysts’ expectations of $20.00 million. The business’s revenue was up 7.1% compared to the same quarter last year. equities research analysts predict that Jounce Therapeutics will post -0.86 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new position in Jounce Therapeutics during the third quarter worth $124,000. American International Group Inc. boosted its holdings in Jounce Therapeutics by 132.2% during the third quarter. American International Group Inc. now owns 9,559 shares of the company’s stock worth $149,000 after purchasing an additional 5,442 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Jounce Therapeutics by 26.4% during the second quarter. Teachers Advisors LLC now owns 11,231 shares of the company’s stock worth $158,000 after purchasing an additional 2,347 shares during the last quarter. Ark Investment Management LLC boosted its holdings in Jounce Therapeutics by 558.9% during the second quarter. Ark Investment Management LLC now owns 11,932 shares of the company’s stock worth $167,000 after purchasing an additional 10,121 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Jounce Therapeutics by 203.3% during the second quarter. Nationwide Fund Advisors now owns 11,946 shares of the company’s stock worth $168,000 after purchasing an additional 8,007 shares during the last quarter. Institutional investors and hedge funds own 47.51% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Upgrades Jounce Therapeutics (JNCE) to Buy” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/05/zacks-investment-research-upgrades-jounce-therapeutics-jnce-to-buy.html.

About Jounce Therapeutics

Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.

Receive News & Ratings for Jounce Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jounce Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply