Jounce Therapeutics (NASDAQ:JNCE) Price Target Cut to $9.00 by Analysts at Piper Sandler

Jounce Therapeutics (NASDAQ:JNCEGet Rating) had its target price reduced by stock analysts at Piper Sandler from $17.00 to $9.00 in a research report issued to clients and investors on Monday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 91.90% from the company’s current price.

Several other equities analysts have also issued reports on JNCE. Zacks Investment Research raised shares of Jounce Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Sumitomo Mitsui Financial Group assumed coverage on shares of Jounce Therapeutics in a research report on Wednesday, March 16th. They set an “outperform” rating and a $17.00 price target on the stock. Raymond James raised shares of Jounce Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $15.00 to $20.00 in a report on Friday, May 6th. Robert W. Baird cut shares of Jounce Therapeutics from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $7.00 in a report on Wednesday, May 11th. Finally, StockNews.com assumed coverage on shares of Jounce Therapeutics in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.75.

Shares of NASDAQ:JNCE opened at $4.69 on Monday. Jounce Therapeutics has a 1 year low of $4.06 and a 1 year high of $9.81. The business has a fifty day simple moving average of $6.20 and a 200 day simple moving average of $7.10. The firm has a market cap of $242.35 million, a price-to-earnings ratio of -2.37 and a beta of 1.12.

Jounce Therapeutics (NASDAQ:JNCEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.15). During the same period in the previous year, the company posted ($0.58) EPS. On average, sell-side analysts anticipate that Jounce Therapeutics will post -2.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JNCE. Goldman Sachs Group Inc. raised its position in Jounce Therapeutics by 310.1% in the third quarter. Goldman Sachs Group Inc. now owns 673,926 shares of the company’s stock worth $5,007,000 after acquiring an additional 509,577 shares during the period. Panagora Asset Management Inc. increased its stake in Jounce Therapeutics by 7.0% in the fourth quarter. Panagora Asset Management Inc. now owns 113,065 shares of the company’s stock valued at $944,000 after acquiring an additional 7,369 shares during the last quarter. GSA Capital Partners LLP increased its stake in Jounce Therapeutics by 84.1% in the third quarter. GSA Capital Partners LLP now owns 96,900 shares of the company’s stock valued at $720,000 after acquiring an additional 44,277 shares during the last quarter. AXA S.A. grew its stake in shares of Jounce Therapeutics by 77.2% during the third quarter. AXA S.A. now owns 35,800 shares of the company’s stock valued at $266,000 after buying an additional 15,600 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Jounce Therapeutics by 3.2% during the third quarter. BlackRock Inc. now owns 2,534,851 shares of the company’s stock valued at $18,834,000 after buying an additional 77,752 shares during the last quarter. 78.20% of the stock is currently owned by institutional investors.

Jounce Therapeutics Company Profile (Get Rating)

Jounce Therapeutics, Inc, a clinical-stage immunotherapy company, develops therapies for the treatment of cancer. The company develops vopratelimab, a clinical-stage monoclonal antibody, which is in Phase II clinical trial that binds to and activates the Inducible T cell CO-Stimulator, a protein on the surface of T cells found in various solid tumors.

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