Janux Therapeutics price target raised to $48 from $24 at BofA

BofA analyst Geoff Meacham raised the firm’s price target on Janux Therapeutics to $48 from $24 and keeps a Buy rating on the shares. Enrollment will continue for Phase 1 of clinical trials for JANX007 and JANX008 and Janux issued data last month that “substantially increased the likelihood of success” for both of the two “promising cancer drugs,” the analyst tells investors. In addition, BofA sees the prospect that Janux will further boost its pipeline after a successful capital raise in February, the analyst added.