Yahoo Finance

Scotiabank lowered the firm’s price target on Janux Therapeutics (JANX) to $41 from $62 and keeps a Sector Perform rating on the shares. While the dose-escalation results for the company’s ongoing Phase 1 trial of JANX007 look promising, the firm does not believe all benchmarks required for establishing a competitive edge and potential pharma acquisition have been achieved, the analyst tells investors. The firm is lowering its price target to reflect a more muted outlook on JANX007 potential.

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Read More on JANX:

• Analyst Recommends ‘Buy’ for Janux Therapeutics Inc. Amid Share Price Decline and Promising Clinical Outlook

• Promising Potential of Janux Therapeutics’ Lead Asset and Strategic Plans Justify Buy Rating

• Janux Therapeutics price target raised to $76 from $75 at Wedbush

• Janux Therapeutics reports Q4 EPS (36c), consensus (45c)

• Janux Therapeutics names Zachariah McIver, D.O., Ph.D. as Chief Medical Officer