JNCE - Jounce upgraded to Strong Buy at Raymond James after pipeline updates
Raymond James analysts have raised their rating on Jounce Therapeutics (NASDAQ:JNCE) to Strong Buy from Outperform after the clinical-stage biotech reported its 1Q 2022 earnings, in which the management highlighted the progress in its pipeline. The analysts led by Steven Seedhouse argues that the company’s top priority asset, JTX-8064, a mono clonal antibody undergoing studies for patients with a certain type of tumors, will drive further upside for the stock. Outlining reasons for their thesis, the team points to the company’s INNATE Phase 1/2 clinical trial JTX-8064 which has already met the pre-specified criteria for the first two combination cohorts, as announced by the management on Thursday. In addition, they note that Jounce (JNCE) is ahead of a “major” catalyst in 2H 2022 when it plans to reportearly clinical data from INNATE consisting results from at least 60 Phase 2 patients and 31 dose escalation patients. The price target raised to
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Jounce upgraded to Strong Buy at Raymond James after pipeline updates