Juno Therapeutics Inc (NASDAQ:JUNO) unveiled its new headquarters and research facility, located in the heart of South Lake Union in Seattle.
The new headquarters brings together Juno’s Seattle employees – previously spread among three locations – enabling the company’s scientists, researchers, technical professionals and administrative staff to work collaboratively in a state-of-the-art facility. The company’s move signifies its investment in the science that is critical to driving developments in cell therapy.
“At Juno, our single focus is delivering on the promise of cell therapy. This is an exciting new frontier in medicine with the potential to change the way we treat cancer,” said Hans Bishop, Juno’s President and Chief Executive Officer. “Our new headquarters and research facility underscore our investment in this future and our commitment to deliver better treatments to our patients.”
Dan Symes, a patient diagnosed with aggressive B-cell non-Hodgkin lymphoma that is now in remission after treatment with Juno’s JCAR017 product candidate, was a featured guest at the building opening. “My specific type of cancer did not respond to other traditional cancer therapies. Our family felt like we had run out of options,” said Mr. Symes. “Now, I am in remission and have gone back to work. I’m so thankful for Juno’s commitment to immunotherapy and the hope that it offers patients battling cancer. I urge Juno’s people to continue their important work so they can help more people like me.”
Juno’s move to the headquarters and research facility comes during a momentous period for both the field of cell therapy and the company. The U.S. Food and Drug Administration approved the first chimeric antigen receptor (CAR) T therapy earlier this month, and Juno posted very encouraging data with JCAR017 in June. Juno believes data from the JCAR017 trial may support FDA approval for the treatment of aggressive non-Hodgkin Lymphoma as soon as 2018. Juno also possesses a deep pipeline of other product candidates focused on a number of cancers.
Shares of Juno Therapeutics closed today at $41.63, down $3.58 or 8%. JUNO has a 1-year high of $47 and a 1-year low of $17.52. The stock’s 50-day moving average is $35.42 and its 200-day moving average is $27.61.
On the ratings front, JUNO has been the subject of a number of recent research reports. In a report issued on August 31, Standpoint Research analyst Ronnie Moas downgraded JUNO to Sell, while on the same day Morgan Stanley’s Matthew Harrison maintained a Hold rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Matthew Harrison have a yearly average return of 5.2% and 17% respectively. Moas has a success rate of 69% and is ranked #245 out of 4658 analysts, while Harrison has a success rate of 67% and is ranked #344.
Overall, one research analyst has rated the stock with a Sell rating, 2 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $39 which is -10.3% under where the stock opened today.
Juno Therapeutics, Inc. is a biopharmaceutical company, which engages in the development of innovative cellular immunotherapy for the treatment of cancer. It offers platforms which includes chimeric antigen receptors and T-cell receptors.