J.P. Morgan Maintains Overweight on Juno Therapeutics Inc Following Investor Meetings

In a research report released today, J.P. Morgan analyst Cory Kasimov maintained an Overweight rating and $70 price target on shares of Juno Therapeutics Inc (NASDAQ:JUNO), after hosting the company’s CFO Steve Harr and CSO Hy Levitsky for a day of investor meetings in NYC. Discussion focused largely on 1) incremental data presented at a recent medical meeting and 2) what to expect at ASH.

Kasimov noted, “JUNO highlighted some incrementally new data demonstrating that overall survival in JCAR015 treated ALL patients is much longer in patients who achieve MRD negative status vs. those who don’t. Post CAR-T treatment, a mOS of 10.8mo was observed in MRD negative pts vs. 3.1mo in MRD negative pts and treatment failures compared to the historical SOC mOS of ~3mo. Initially, the co is evaluating MRDneg via flow, though believes ultimately MRDneg by deep sequencing is likely to be the more important measure.”

Furthermore, “While discussion tends to focus on ALL and then solid tumors, JUNO highlighted the progress it has made in NHL. After ALL, NHL is likely to be the next labeled indication (and a much larger opportunity). Based on data from the JCAR014 trial (slide 14), JUNO is moving forward with JCAR017 in NHL at a dose of 2*106 plus the cyclophosphamide + fludarabine preconditioning regimen.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 8.5% and a 57.0% success rate. Kasimov has an -17.3% average return when recommending JUNO, and is ranked #342 out of 3759 analysts.

Out of the 6 analysts polled by TipRanks, 5 rate Juno Therapeutics stock a Buy, while 1 rates the stock a Hold. With a return potential of 60%, the stock’s consensus target price stands at $65.67.

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