Zacks Investment Research Upgrades Jounce Therapeutics (NASDAQ:JNCE) to Buy

Zacks Investment Research upgraded shares of Jounce Therapeutics (NASDAQ:JNCE) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $9.00 price objective on the stock.

According to Zacks, “Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company. It engaged in developing therapies which enable the immune system to attack tumors. The Company’s lead product candidate, JTX-2011, is a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of certain T cells found in a range of solid tumors. It also developing JTX-4014 for use in future combinations with JTX-2011, as well as for use in combination with other future product candidates. Jounce Therapeutics, Inc. is based in Cambridge, United States. “

Other analysts have also issued research reports about the company. Cowen reiterated a hold rating on shares of Jounce Therapeutics in a research note on Tuesday, November 12th. ValuEngine downgraded Jounce Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, December 17th. TheStreet raised Jounce Therapeutics from a d rating to a c- rating in a research report on Wednesday, December 11th. Finally, BidaskClub downgraded Jounce Therapeutics from a buy rating to a hold rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $9.00.

JNCE stock opened at $7.44 on Friday. The company has a quick ratio of 13.60, a current ratio of 13.60 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $7.80 and its two-hundred day simple moving average is $4.95. Jounce Therapeutics has a twelve month low of $2.79 and a twelve month high of $10.00. The firm has a market cap of $235.27 million, a price-to-earnings ratio of -8.86 and a beta of 3.98.

Jounce Therapeutics (NASDAQ:JNCE) last released its earnings results on Thursday, November 7th. The company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.66. Jounce Therapeutics had a return on equity of 64.54% and a net margin of 46.11%. The business had revenue of $119.45 million for the quarter, compared to analyst estimates of $99.97 million. Research analysts expect that Jounce Therapeutics will post 1.92 EPS for the current year.

In other news, CEO Richard /Ca/ Murray sold 7,150 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $7.78, for a total transaction of $55,627.00. Following the transaction, the chief executive officer now owns 87,360 shares of the company’s stock, valued at approximately $679,660.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 11,274 shares of company stock worth $88,207 in the last three months. Corporate insiders own 44.41% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in Jounce Therapeutics by 595.8% during the third quarter. Tower Research Capital LLC TRC now owns 16,073 shares of the company’s stock valued at $54,000 after purchasing an additional 13,763 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Jounce Therapeutics in the second quarter worth about $59,000. Meeder Asset Management Inc. boosted its holdings in Jounce Therapeutics by 300.1% in the third quarter. Meeder Asset Management Inc. now owns 20,139 shares of the company’s stock worth $68,000 after acquiring an additional 15,105 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Jounce Therapeutics in the third quarter worth about $113,000. Finally, Algert Global LLC boosted its holdings in Jounce Therapeutics by 107.0% in the second quarter. Algert Global LLC now owns 29,360 shares of the company’s stock worth $145,000 after acquiring an additional 15,178 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

About Jounce Therapeutics

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company offers vopratelimab, a clinical-stage monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors, which is in Phase I/II clinical trial for the treatment of head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, gastric cancer, and other tumor types identified through its translational science platform.

Recommended Story: How does the Beige Book influence monetary policy?

Get a free copy of the Zacks research report on Jounce Therapeutics (JNCE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Jounce Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jounce Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.