J.P. Morgan analyst Cory Kasimov is out today sharing insights from the sidelines on Juno Therapeutics Inc (NASDAQ:JUNO) after hosting a Healthcare Conference, where the biotech firm’s President and CEO Hans Bishop presented. In reaction, the analyst reiterates a Neutral rating on JUNO without listing a price target.
Kasimov notes, “Nothing materially new came from the presentation/breakout following the company’s recent data presentations and investor event at ASH in Dec. The path forward for JCAR015 is still TBD. JCAR017’s pivotal trial in NHL is expected to start this year and could facilitate initial approval as early as 2018.”
Challenges lie ahead that keep Kasimov cautious on the future of the stock, as he believes, “The hurdle for moving forward with JCAR015 is very high; the strategic rationale behind JCAR015 initially was time to market but JUNO always believed the defined cell products were better products (and now the time-to-market benefit is lost)”
Moving forward, “The co is also weighing whether or not to move JCAR017 forward in adult ALL; the safety profile has been encouraging so far, though mgmt does think there will be more tox for the product if it moved into adult ALL (the impact of which must be considered as it could complicate a potential NHL label),” the analyst concludes.
As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks, Cory Kasimov is ranked #4,250 out of 4,351 analysts. Kasimov has a 36% success rate and faces a loss of 9.5% in his yearly returns. When suggesting JUNO, Kasimov forfeits 28.3% in average profits on the stock.
TipRanks analytics demonstrate JUNO as a Buy. Out of 9 analysts polled by TipRanks in the last 3 months, 4 rate a Buy on Juno while 5 maintain a Hold. The 12-month average price target stands at $33.14 marking a 61% upside from where the stock is currently trading.
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