Jounce Therapeutics Inc (JNCE) Expected to Announce Quarterly Sales of $15.64 Million

Brokerages forecast that Jounce Therapeutics Inc (NASDAQ:JNCE) will post $15.64 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Jounce Therapeutics’ earnings, with the highest sales estimate coming in at $16.27 million and the lowest estimate coming in at $15.00 million. Jounce Therapeutics reported sales of $20.29 million in the same quarter last year, which would suggest a negative year over year growth rate of 22.9%. The company is scheduled to report its next earnings results on Friday, March 9th.

According to Zacks, analysts expect that Jounce Therapeutics will report full-year sales of $15.64 million for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $88.96 million per share, with estimates ranging from $74.92 million to $103.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Jounce Therapeutics.

Jounce Therapeutics (NASDAQ:JNCE) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.12. The firm had revenue of $18.10 million for the quarter, compared to analysts’ expectations of $20.00 million. Jounce Therapeutics had a negative return on equity of 1.39% and a negative net margin of 2.03%. The firm’s revenue was up 7.1% compared to the same quarter last year.

A number of research analysts recently commented on JNCE shares. Zacks Investment Research downgraded shares of Jounce Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. JPMorgan Chase & Co. set a $28.00 price target on shares of Jounce Therapeutics and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $30.00 price target on shares of Jounce Therapeutics in a report on Friday, November 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.00.

Jounce Therapeutics (NASDAQ JNCE) traded down $0.61 during midday trading on Thursday, hitting $23.37. The stock had a trading volume of 237,032 shares, compared to its average volume of 348,449. The company has a market cap of $753.59 and a PE ratio of -111.29. Jounce Therapeutics has a 12-month low of $11.05 and a 12-month high of $29.29.

In other Jounce Therapeutics news, Director Barbara Gayle Duncan sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $25.00, for a total value of $100,000.00. Following the completion of the sale, the director now owns 4,000 shares of the company’s stock, valued at $100,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Jounce Therapeutics in the fourth quarter worth $294,000. First Manhattan Co. increased its holdings in shares of Jounce Therapeutics by 151.6% in the 4th quarter. First Manhattan Co. now owns 78,000 shares of the company’s stock valued at $994,000 after purchasing an additional 47,000 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of Jounce Therapeutics by 43.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 262,105 shares of the company’s stock valued at $4,084,000 after purchasing an additional 79,683 shares during the period. Fosun International Ltd increased its holdings in shares of Jounce Therapeutics by 208.8% in the 3rd quarter. Fosun International Ltd now owns 285,960 shares of the company’s stock valued at $4,455,000 after purchasing an additional 193,350 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of Jounce Therapeutics by 99.2% in the 3rd quarter. California State Teachers Retirement System now owns 23,500 shares of the company’s stock valued at $366,000 after purchasing an additional 11,700 shares during the period. 47.40% of the stock is owned by institutional investors and hedge funds.

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About Jounce Therapeutics

Jounce Therapeutics, Inc is a clinical stage immunotherapy company. The Company is engaged in transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets, and then identifies related biomarkers designed to match the right therapy to the right patient.

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