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

Analysts expect Jounce Therapeutics Inc (NASDAQ:JNCE) to report $12.80 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Jounce Therapeutics’ earnings, with the lowest sales estimate coming in at $11.20 million and the highest estimate coming in at $15.50 million. Jounce Therapeutics reported sales of $12.99 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that Jounce Therapeutics will report full year sales of $54.57 million for the current fiscal year. For the next fiscal year, analysts anticipate that the company will report sales of $65.05 million, with estimates ranging from $43.00 million to $86.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Jounce Therapeutics.

Jounce Therapeutics (NASDAQ:JNCE) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.11. The company had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $12.80 million. Jounce Therapeutics had a negative net margin of 50.54% and a negative return on equity of 23.27%.

JNCE has been the subject of several research reports. Cowen reaffirmed a “hold” rating on shares of Jounce Therapeutics in a research note on Tuesday. Zacks Investment Research cut shares of Jounce Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Raymond James decreased their price target on shares of Jounce Therapeutics from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, October 23rd. ValuEngine raised Jounce Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, HC Wainwright set a $13.00 price objective on Jounce Therapeutics and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Jounce Therapeutics currently has an average rating of “Hold” and a consensus price target of $11.92.

Shares of JNCE traded up $0.45 during mid-day trading on Friday, hitting $4.55. 411,525 shares of the company’s stock were exchanged, compared to its average volume of 463,132. The stock has a market capitalization of $145.52 million, a P/E ratio of -7.98 and a beta of 4.97. Jounce Therapeutics has a 52 week low of $3.30 and a 52 week high of $29.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Man Group plc acquired a new stake in shares of Jounce Therapeutics in the 3rd quarter valued at approximately $1,299,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Jounce Therapeutics in the 3rd quarter valued at approximately $231,000. Renaissance Technologies LLC acquired a new stake in shares of Jounce Therapeutics in the 3rd quarter valued at approximately $1,086,000. JPMorgan Chase & Co. boosted its holdings in shares of Jounce Therapeutics by 153.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,029 shares of the company’s stock valued at $2,861,000 after buying an additional 266,126 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Jounce Therapeutics in the 3rd quarter valued at approximately $677,000. 84.61% of the stock is owned by institutional investors.

About Jounce Therapeutics

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.

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