Janux Therapeutics price target raised to $53 from $24 at Wedbush

Wedbush analyst Robert Driscoll raised the firm’s price target on Janux Therapeutics to $53 from $24 and keeps an Outperform rating on the shares after the company reported updated interim data for its PSMA-CD3 targeted TRACTr JANX007 and EGFR-CD3 targeted TRACTr JANX008 programs. Wedbush sees significant opportunity for JANX007 given its compelling profile, potential best-in-class efficacy, and favorable safety profile vs. other targeted agents in development for mCRPC, and potential for combination or maintenance switch therapy with approved agents Xtandi or Pluvicto, respectively, in higher lines of therapy.