Brokerages Set $29.00 Price Target for Jounce Therapeutics Inc (JNCE)

Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) have received an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus price target of $29.00 for the company and are forecasting that the company will post ($0.59) EPS for the current quarter, according to Zacks. Zacks has also assigned Jounce Therapeutics an industry rank of 156 out of 265 based on the ratings given to its competitors.

Several research firms recently issued reports on JNCE. JPMorgan Chase & Co. set a $28.00 price objective on Jounce Therapeutics and gave the company a “buy” rating in a research report on Monday, November 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Jounce Therapeutics in a research report on Monday, September 18th. Finally, Zacks Investment Research raised Jounce Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, January 3rd.

Jounce Therapeutics (NASDAQ JNCE) traded up $1.00 during mid-day trading on Friday, reaching $16.37. The company had a trading volume of 187,299 shares, compared to its average volume of 149,735. The company has a market cap of $495.62 and a PE ratio of -77.95. Jounce Therapeutics has a fifty-two week low of $11.05 and a fifty-two week high of $29.29.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. lifted its position in Jounce Therapeutics by 43.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 262,105 shares of the company’s stock valued at $4,084,000 after acquiring an additional 79,683 shares in the last quarter. Fosun International Ltd lifted its holdings in shares of Jounce Therapeutics by 208.8% during the 3rd quarter. Fosun International Ltd now owns 285,960 shares of the company’s stock valued at $4,455,000 after buying an additional 193,350 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Jounce Therapeutics by 99.2% during the 3rd quarter. California State Teachers Retirement System now owns 23,500 shares of the company’s stock valued at $366,000 after buying an additional 11,700 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Jounce Therapeutics by 11.9% during the 3rd quarter. OxFORD Asset Management LLP now owns 59,540 shares of the company’s stock valued at $927,000 after buying an additional 6,328 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Jounce Therapeutics by 55.9% during the 3rd quarter. Brown Advisory Inc. now owns 475,719 shares of the company’s stock valued at $7,411,000 after buying an additional 170,661 shares during the period. 47.51% of the stock is currently owned by institutional investors and hedge funds.

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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.

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