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Janux Therapeutics (JANX) Moves 6.5% Higher: Will This Strength Last?
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Janux Therapeutics, Inc. (JANX - Free Report) shares ended the last trading session 6.5% higher at $46.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% gain over the past four weeks.
The sudden stock price rise can be attributed to positive investor expectations for the company’s pipeline. The most advanced candidates in Janux’s pipeline are JANX007 and JANX008 which are being evaluated in early-stage clinical studies for prostate cancer and solid tumors, respectively. An update on JANX007 data and doses selected for expansion cohorts is expected by 2024-end, while that on JANX008 data is anticipated in 2025.
This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of -48%. Revenues are expected to be $1 million, down 60.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Janux Therapeutics, the consensus EPS estimate for the quarter has been revised 5.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on JANX going forward to see if this recent jump can turn into more strength down the road.
Janux Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Krystal Biotech, Inc. (KRYS - Free Report) , closed the last trading session 1.6% lower at $195.64. Over the past month, KRYS has returned 5.6%.
Krystal Biotech's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.77. Compared to the company's year-ago EPS, this represents a change of +214.9%. Krystal Biotech currently boasts a Zacks Rank of #1 (Strong Buy).
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Janux Therapeutics (JANX) Moves 6.5% Higher: Will This Strength Last?
Janux Therapeutics, Inc. (JANX - Free Report) shares ended the last trading session 6.5% higher at $46.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% gain over the past four weeks.
The sudden stock price rise can be attributed to positive investor expectations for the company’s pipeline. The most advanced candidates in Janux’s pipeline are JANX007 and JANX008 which are being evaluated in early-stage clinical studies for prostate cancer and solid tumors, respectively. An update on JANX007 data and doses selected for expansion cohorts is expected by 2024-end, while that on JANX008 data is anticipated in 2025.
This company is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of -48%. Revenues are expected to be $1 million, down 60.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Janux Therapeutics, the consensus EPS estimate for the quarter has been revised 5.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on JANX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Janux Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Krystal Biotech, Inc. (KRYS - Free Report) , closed the last trading session 1.6% lower at $195.64. Over the past month, KRYS has returned 5.6%.
Krystal Biotech's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.77. Compared to the company's year-ago EPS, this represents a change of +214.9%. Krystal Biotech currently boasts a Zacks Rank of #1 (Strong Buy).