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Janux Therapeutics (JANX) Surges 6.8%: Is This an Indication of Further Gains?
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Janux Therapeutics, Inc. (JANX - Free Report) shares soared 6.8% in the last trading session to close at $25.85. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.5% loss over the past four weeks.
The sudden stock price rise can be attributed to positive investor expectations for the company’s pipeline. The most advanced candidates in Janux’s pipeline are JANX007 and JANX008 which are being evaluated in early-stage clinical studies for prostate cancer and solid tumors, respectively.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -17.7%. Revenues are expected to be $7.81 million, up 1675.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Janux Therapeutics, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on JANX going forward to see if this recent jump can turn into more strength down the road.
Janux Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Stoke Therapeutics, Inc. (STOK - Free Report) , finished the last trading session 2% lower at $29.9. STOK has returned 34.6% over the past month.
Stoke Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.56. Compared to the company's year-ago EPS, this represents a change of -19.2%. Stoke Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Janux Therapeutics (JANX) Surges 6.8%: Is This an Indication of Further Gains?
Janux Therapeutics, Inc. (JANX - Free Report) shares soared 6.8% in the last trading session to close at $25.85. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.5% loss over the past four weeks.
The sudden stock price rise can be attributed to positive investor expectations for the company’s pipeline. The most advanced candidates in Janux’s pipeline are JANX007 and JANX008 which are being evaluated in early-stage clinical studies for prostate cancer and solid tumors, respectively.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -17.7%. Revenues are expected to be $7.81 million, up 1675.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Janux Therapeutics, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on JANX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Janux Therapeutics is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Stoke Therapeutics, Inc. (STOK - Free Report) , finished the last trading session 2% lower at $29.9. STOK has returned 34.6% over the past month.
Stoke Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.56. Compared to the company's year-ago EPS, this represents a change of -19.2%. Stoke Therapeutics currently boasts a Zacks Rank of #3 (Hold).