Jounce Therapeutics (NASDAQ:JNCE) has received an average broker rating score of 1.00 (Strong Buy) from the five brokers that cover the company, Zacks Investment Research reports. Five research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $33.25 for the company and are forecasting that the company will post ($0.31) earnings per share for the current quarter, according to Zacks. Zacks has also given Jounce Therapeutics an industry rank of 154 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on JNCE shares. Zacks Investment Research downgraded shares of Jounce Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. Robert W. Baird set a $35.00 target price on Jounce Therapeutics and gave the company a “buy” rating in a research report on Thursday, March 8th. Finally, HC Wainwright initiated coverage on Jounce Therapeutics in a research report on Friday, April 27th. They issued a “buy” rating and a $33.00 target price on the stock.
In related news, insider Elizabeth Trehu sold 4,545 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $21.50, for a total value of $97,717.50. Following the sale, the insider now owns 4,545 shares in the company, valued at $97,717.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Barbara Gayle Duncan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $28.11, for a total value of $56,220.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $56,220. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,292 shares of company stock worth $1,272,403.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers purchased a new stake in Jounce Therapeutics in the 4th quarter worth approximately $134,000. Paloma Partners Management Co purchased a new stake in Jounce Therapeutics in the 4th quarter worth approximately $230,000. SG Americas Securities LLC purchased a new stake in Jounce Therapeutics in the 4th quarter worth approximately $294,000. California State Teachers Retirement System boosted its position in Jounce Therapeutics by 99.2% in the 3rd quarter. California State Teachers Retirement System now owns 23,500 shares of the company’s stock worth $366,000 after purchasing an additional 11,700 shares in the last quarter. Finally, Swiss National Bank boosted its position in Jounce Therapeutics by 84.3% in the 4th quarter. Swiss National Bank now owns 24,700 shares of the company’s stock worth $315,000 after purchasing an additional 11,300 shares in the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.
Shares of JNCE traded up $0.15 during mid-day trading on Tuesday, hitting $20.35. 136,100 shares of the company traded hands, compared to its average volume of 329,135. Jounce Therapeutics has a 1-year low of $11.05 and a 1-year high of $29.25. The company has a market cap of $656.15 million, a P/E ratio of -35.70 and a beta of 6.41.
Jounce Therapeutics (NASDAQ:JNCE) last posted its quarterly earnings data on Thursday, March 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.25. Jounce Therapeutics had a negative net margin of 22.76% and a negative return on equity of 10.24%. The firm had revenue of $13.00 million for the quarter, compared to the consensus estimate of $14.95 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 36.0% compared to the same quarter last year. research analysts expect that Jounce Therapeutics will post -1.1 EPS for the current fiscal year.
About Jounce Therapeutics
Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, 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 solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.
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