Jounce Therapeutics Inc (JNCE) Expected to Announce Quarterly Sales of $12.80 Million

Equities analysts expect that Jounce Therapeutics Inc (NASDAQ:JNCE) will post $12.80 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Jounce Therapeutics’ earnings. The highest sales estimate is $15.50 million and the lowest is $11.20 million. Jounce Therapeutics posted sales of $18.08 million in the same quarter last year, which would indicate a negative year over year growth rate of 29.2%. The company is expected to issue its next quarterly earnings results on Monday, November 12th.

On average, analysts expect that Jounce Therapeutics will report full-year sales of $56.73 million for the current financial year, with estimates ranging from $52.96 million to $61.57 million. For the next year, analysts expect that the business will post sales of $65.05 million per share, with estimates ranging from $43.00 million to $86.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Jounce Therapeutics.

Jounce Therapeutics (NASDAQ:JNCE) last announced its quarterly earnings data on Friday, August 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.23. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%. The company had revenue of $19.38 million during the quarter, compared to analysts’ expectations of $12.47 million.

JNCE has been the subject of a number of recent analyst reports. TheStreet lowered shares of Jounce Therapeutics from a “c-” rating to a “d+” rating in a report on Tuesday, May 22nd. Wells Fargo & Co lowered their price target on shares of Jounce Therapeutics to $10.00 and set a “market perform” rating for the company in a report on Thursday, May 31st. JPMorgan Chase & Co. lowered shares of Jounce Therapeutics from an “overweight” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Monday, June 4th. Robert W. Baird lowered their price target on shares of Jounce Therapeutics from $35.00 to $20.00 and set a “buy” rating for the company in a report on Monday, June 4th. Finally, Cowen lowered shares of Jounce Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.54.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Jounce Therapeutics by 22.2% in the 2nd quarter. BlackRock Inc. now owns 1,394,905 shares of the company’s stock worth $10,684,000 after purchasing an additional 253,120 shares in the last quarter. Redmile Group LLC raised its holdings in Jounce Therapeutics by 2.7% in the 2nd quarter. Redmile Group LLC now owns 1,214,593 shares of the company’s stock worth $9,304,000 after purchasing an additional 32,200 shares in the last quarter. Millennium Management LLC raised its holdings in Jounce Therapeutics by 91.6% in the 2nd quarter. Millennium Management LLC now owns 679,177 shares of the company’s stock worth $5,202,000 after purchasing an additional 324,681 shares in the last quarter. venBio Select Advisor LLC bought a new position in Jounce Therapeutics in the 1st quarter worth $11,693,000. Finally, Dimensional Fund Advisors LP raised its holdings in Jounce Therapeutics by 186.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 314,831 shares of the company’s stock worth $2,412,000 after purchasing an additional 204,762 shares in the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.

NASDAQ:JNCE traded down $0.17 during midday trading on Wednesday, reaching $6.87. 179,927 shares of the stock traded hands, compared to its average volume of 254,684. Jounce Therapeutics has a 12 month low of $6.56 and a 12 month high of $29.25. The firm has a market capitalization of $227.09 million, a P/E ratio of -12.05 and a beta of 5.21.

Jounce Therapeutics Company Profile

Jounce Therapeutics, Inc, a clinical stage immunotherapy company, develops therapies for the treatment of cancer. Its lead product candidate is JTX-2011, a clinical stage monoclonal antibody that binds to and activates the inducible T cell co-stimulator, a protein on the surface of certain T cells found in solid tumors, which is in Phase I/II clinical trial for the treatment of six tumor types, including head and neck squamous cell cancer, non-small cell lung cancer, triple negative breast cancer, melanoma, gastric cancer, and other tumor types identified through its translational science platform.

See Also: Earnings Per Share (EPS) Explained

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