Jounce Therapeutics Inc (JNCE) Receives $13.20 Consensus Price Target from Analysts

Shares of Jounce Therapeutics Inc (NASDAQ:JNCE) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.20.

JNCE has been the topic of a number of recent analyst reports. Wells Fargo & Co lowered their price target on shares of Jounce Therapeutics to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 31st. JPMorgan Chase & Co. downgraded shares of Jounce Therapeutics from an “overweight” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Monday, June 4th. Robert W. Baird lowered their price target on shares of Jounce Therapeutics from $35.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, June 4th. Cowen downgraded shares of Jounce Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 5th. Finally, Raymond James initiated coverage on shares of Jounce Therapeutics in a report on Thursday, June 28th. They issued an “outperform” rating and a $13.00 price target on the stock.

NASDAQ:JNCE traded down $0.23 on Wednesday, reaching $6.52. 13,240 shares of the company’s stock were exchanged, compared to its average volume of 261,455. The firm has a market capitalization of $220.24 million, a PE ratio of -11.60 and a beta of 5.23. Jounce Therapeutics has a 52 week low of $6.26 and a 52 week high of $29.25.

Jounce Therapeutics (NASDAQ:JNCE) last issued its earnings results on Friday, August 10th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.23. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%. The firm had revenue of $19.38 million during the quarter, compared to analyst estimates of $12.47 million. sell-side analysts expect that Jounce Therapeutics will post -1.26 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new stake in shares of Jounce Therapeutics in the second quarter worth about $132,000. MetLife Investment Advisors LLC purchased a new stake in Jounce Therapeutics in the first quarter valued at approximately $159,000. Bank of America Corp DE raised its stake in Jounce Therapeutics by 243.4% in the second quarter. Bank of America Corp DE now owns 28,607 shares of the company’s stock valued at $219,000 after purchasing an additional 20,276 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Jounce Therapeutics in the first quarter valued at approximately $243,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Jounce Therapeutics in the first quarter valued at approximately $313,000. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

About Jounce Therapeutics

Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.

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Analyst Recommendations for Jounce Therapeutics (NASDAQ:JNCE)

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