William Blair analyst Matt Phipps has reiterated their bullish stance on JANX stock, giving a Buy rating on May 5.
Matt Phipps has given his Buy rating due to a combination of factors that highlight Janux Therapeutics Inc’s potential for growth. Despite a recent sell-off in Janux shares, largely attributed to limited details in a press release about JANX007 results, Phipps is encouraged by the progression-free survival (PFS) data in a heavily pretreated patient population. This data suggests durable responses in patients, justifying the target doses for dose expansion studies.
Additionally, with over $1 billion in cash and multiple clinical readouts expected in 2025, Phipps believes Janux is undervalued, particularly considering the potential of JANX007. The pullback in stock price is seen as an attractive opportunity for investors, with significant updates anticipated in the second half of 2025, including further clinical updates and an R&D day focusing on preclinical programs.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of JANX in relation to earlier this year.