Truist assumed coverage of Janux Therapeutics with a Buy rating with a price target of $26, down from $80. Further refinement is needed to further improve tolerability and durability of the company's JANX007, but the firm views the asset as important proof-of-concept for the TRACTr platform, the analyst tells investors in a research note. Beyond JANX007, Truist notes potential upside from JANX014, JANX013, and JANX011, which extend the platform across oncology & autoimmune disease, the firm added.
