Stock Update (NASDAQ:JUNO): Juno Therapeutics Inc to Resume JCAR015 Phase II ROCKET Trial
Juno Therapeutics Inc (NASDAQ:JUNO), a biopharmaceutical company focused on re-engaging the body’s immune system to revolutionize the treatment of cancer, today announced that the U.S. Food and Drug Administration has removed the clinical hold on the Phase II clinical trial of JCAR015 (known as the “ROCKET” trial) in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia (r/r ALL).
Under the revised protocol, the ROCKET trial will continue enrollment using JCAR015 with cyclophosphamide pre-conditioning only. (Original Source)
Shares of Juno Therapeutics jumped nearly 28% in after-hours trading. JUNO has a 1-year high of $57.82 and a 1-year low of $22.37. The stock’s 50-day moving average is $41.36 and its 200-day moving average is $38.33.
On the ratings front, Juno has been the subject of a number of recent research reports. In a report released yesterday, Cowen analyst Chris Shibutani reiterated a Buy rating on JUNO, with a price target of $51, which represents a potential upside of 83.5% from where the stock is currently trading. Separately, on the same day, Barclays’ Jonathan Eckard reiterated a Hold rating on the stock and has a price target of $35.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chris Shibutani and Jonathan Eckard have a total average return of -4.6% and -4.8% respectively. Shibutani has a success rate of 36% and is ranked #3076 out of 4038 analysts, while Eckard has a success rate of 30% and is ranked #3409.
The street is mostly Bullish on JUNO stock. Out of 7 analysts who cover the stock, 4 suggest a Buy rating and 3 recommend to Hold the stock.
Juno Therapeutics, Inc. is a biopharmaceutical company focused on body’s immune system to treat cancer by developing cellular immunotherapies. It platforms include chimeric antigen receptors (CARs) and T-cell receptors (TCRs). The CAR technology is designed to target cell surface antigens that are expressed on cancer cells. In addition, the high-affinity TCR technology can also detect alterations in intracellular proteins present in tumor cells. These treatments have the potential to reduce longer-term toxicities associated with current chemotherapeutics.