Zacks Investment Research cut shares of Juno Therapeutics, Inc. (NASDAQ:JUNO) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “Juno remains on track with its pipeline candidates and continues to pursue acquisitions and licensing agreements. The company’s deal with Celgene for the global development and commercialization of immunotherapies is encouraging. Juno’s shares outperformed the Medical-Biomed/Genetics industry so far this year. However, the company recently suffered a huge setback as it discontinued the development of cancer candidate, JCAR015 due to the toxicity witnessed in a phase II ROCKET study. Moreover, increased competition in the immunotherapy space is a matter of concern for the company as several companies are looking to bring these treatments to the market. Estimates have been going up lately ahead of the company’s Q2 earnings release. The company has negative record of earnings surprises in recent quarters.”

A number of other research firms have also recently weighed in on JUNO. Vetr cut shares of Juno Therapeutics from a hold rating to a sell rating and set a $28.85 price objective for the company. in a research report on Monday, July 24th. BidaskClub raised shares of Juno Therapeutics from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. FBR & Co decreased their price objective on shares of Juno Therapeutics from $30.00 to $29.00 and set a mkt perform rating for the company in a research report on Friday, May 5th. Finally, Wedbush reissued a neutral rating and issued a $24.00 price objective on shares of Juno Therapeutics in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $30.81.

Juno Therapeutics (JUNO) traded up 2.79% during mid-day trading on Thursday, reaching $29.88. The company’s stock had a trading volume of 1,898,914 shares. The stock’s market capitalization is $3.11 billion. The stock’s 50 day moving average price is $27.95 and its 200 day moving average price is $24.15. Juno Therapeutics has a 1-year low of $17.52 and a 1-year high of $35.04.

Juno Therapeutics (NASDAQ:JUNO) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by $0.24. The firm had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $15.59 million. Juno Therapeutics had a negative net margin of 354.36% and a negative return on equity of 26.26%. The business’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.64) earnings per share. Analysts expect that Juno Therapeutics will post ($2.98) EPS for the current fiscal year.

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In related news, Director Jay T. Flatley purchased 20,000 shares of Juno Therapeutics stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $24.76 per share, with a total value of $495,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony B. Evnin purchased 9,000 shares of Juno Therapeutics stock in a transaction dated Tuesday, June 20th. The shares were bought at an average cost of $24.40 per share, for a total transaction of $219,600.00. Following the transaction, the director now directly owns 66,301 shares of the company’s stock, valued at approximately $1,617,744.40. The disclosure for this purchase can be found here. Insiders have sold 8,041,500 shares of company stock worth $217,230,360 in the last ninety days. Corporate insiders own 15.26% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. M&T Bank Corp bought a new position in shares of Juno Therapeutics during the first quarter valued at approximately $381,000. Norges Bank bought a new position in shares of Juno Therapeutics during the fourth quarter valued at approximately $13,993,000. Nisa Investment Advisors LLC bought a new position in shares of Juno Therapeutics during the first quarter valued at approximately $200,000. Laurion Capital Management LP bought a new position in shares of Juno Therapeutics during the first quarter valued at approximately $390,000. Finally, BB Biotech AG boosted its position in shares of Juno Therapeutics by 16.8% in the first quarter. BB Biotech AG now owns 2,185,000 shares of the biopharmaceutical company’s stock valued at $48,485,000 after buying an additional 315,000 shares during the last quarter. 64.51% of the stock is currently owned by institutional investors and hedge funds.

About Juno Therapeutics

Juno Therapeutics, Inc (Juno) is a biopharmaceutical company, which is focused on developing cellular immunotherapies for the treatment of cancer. The Company is developing cell-based cancer immunotherapies based on its chimeric antigen receptor (CAR) and T cell receptor (TCR) technologies to genetically engineer T cells to recognize and kill cancer cells.

Analyst Recommendations for Juno Therapeutics (NASDAQ:JUNO)

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