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BTIG Is No Longer Selling Juno Therapeutics Stock

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BTIG Is No Longer Selling Juno Therapeutics Stock

BTIG’s Dane Leone has upgraded Juno Therapeutics Inc (NASDAQ: JUNO) to Neutral from Sell, as the shares have hit his target price and the ASH abstract release showed similar response rates for the company’s JCAR017 versus Kite Pharma Inc (NASDAQ: KITE)’s KTE-C19 in patients with Diffuse Large B-Cell Lymphoma (DLBCL).

“We continue to think that Sell-side estimates for the CD19 CAR T class are too high, but acknowledge that Buy-side expectations are more inline with our model,” Leone wrote in a note. 

The analyst said the JCAR017 dataset in DLBCL is small, and 10 of 11 patients within the response group had undergone prior transplant. But, the analyst said they still lack data on response rates in the worst r/r DLBCL group, which is also the largest patient population.

Although toxicity seems slightly favorable to KTE-C19, the analyst said small numbers limit this assertion.

Late August, Leone initiated coverage of the company with a Sell rating and price target of $23.

Shares of Juno Therapeutics closed Thursday’s trading down 5.06 percent to $22.72 and is 61 percent lower than its 52-week high of $57.82. However, by last check Friday, Juno was up 5.68 percent, trading at $24.01.

Latest Ratings for JUNO

DateFirmActionFromTo
Jan 2018DowngradesBuyHold
Jan 2018DowngradesOverweightEqual-Weight
Jan 2018DowngradesBuyHold

View More Analyst Ratings for JUNO
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Posted-In: Analyst Color Biotech News Upgrades Price Target Analyst Ratings Movers General Best of Benzinga

 

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