Janux Therapeutics initiated with a Buy at Stifel

Stifel initiated coverage of Janux Therapeutics with a Buy rating and $70 price target. Janux disclosed phase 1a data in February that “strongly argues in favor of validation” of its proprietary bispecific platform and Tumor Activated T Cell Engager, or TRACTr, masking technology, the analyst tells investors. Following the data, the firm sees “a high likelihood” of JANX007 becoming “an innovative and differentiated therapy for the unmet need in prostate cancer,” the analyst added.