Janux Therapeutics Inc (JANX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Janux Therapeutics Inc stock $15.13, price $17.63, that is 14.2% below the price, quality 26 out of 100. Rating: overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
Janux Therapeutics, Inc., a clinical stage biopharmaceutical company, develops immunotherapies based on Tumor Activated T Cell Engager (TRACTr), Tumor Activated Immunomodulator (TRACIr), and Adaptive Immune Response Modulator (ARM) platforms technology to treat patients with cancer.
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The company's clinical candidates include JANX007, a prostate-specific membrane antigen or PSMA-TRACTr, which is in Phase 1 clinical trial in adults for the treatment of metastatic castration-resistant prostate cancer and the vasculature of other tumors; and JANX008, an epidermal growth factor receptor that is in Phase 1 clinical trial for the treatment of various solid cancers, including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, renal cell carcinoma, small cell lung cancer, pancreatic ductal adenocarcinoma, and triple-negative breast cancer.
It also develops JANX011, a CD19-targeted adaptive immune response modulator that is in phase 1 clinical study developed for autoimmune diseases.
The company has strategic research collaboration agreement with Merck Sharp & Dohme Corp. to develop TRACTr product candidates; and Bristol Myers Squibb to develop and commercialize an undisclosed, novel tumor-activated therapeutic targeting a validated solid tumor antigen expressed across several human cancer types.
Janux Therapeutics, Inc. was incorporated in 2017 and is headquartered in San Diego, California.
Stock analysis
Janux Therapeutics Inc (JANX) currently trades at $17.63, while our model-based Fair Value estimate is $15.13, 14% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $9.99 (bear) to $18.92 (bull), the price of $17.63 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 26/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Janux Therapeutics Inc reported revenue of $10.0M in FY2025 versus $3.6M in FY2021, a compound +28.8%/yr. Reported net income was −$114M in FY2025.
Key figures
Market cap $1.1B Small · P/S ratio 40.9 · EPS (TTM) $−1.64 · Return on equity −10.7% · Return on assets (EBIT) −14.2% (5-year average) · Operating margin −309% · Revenue (TTM) $24.0M · Revenue growth (YoY) +21.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −14%, JANX screens richer than that median.
Fair Value models
Bear$9.99Fair Value $15.13Bull$18.92
Price $17.63 · Downside -14.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleMaria DobekVice President, Accounting2× since Jan 2, 2026: 3,500 shares, avg. $13.99$48,952May 11, 2026
SaleDavid Alan CampbellPresident and CEO, Director8,072 shares at $13.73$110,829Jan 2, 2026
SaleAndrew Hollman MeyerChief Business Officer3× since Nov 14, 2025: 8,545 shares, avg. $27.58$235,702Jan 2, 2026
SaleCharles M. WinterChief Technical Officer2,401 shares at $13.73$32,966Jan 2, 2026
SaleThomas DiRaimondoChief Scientific Officer2,505 shares at $13.73$34,394Jan 2, 2026
SaleZachariah McIverChief Medical Officer2,714 shares at $13.73$37,263Jan 2, 2026
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.28/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+92.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1,274.5% (2020) → −1,576.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 558 stocks
Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside−14.2% · Above median
Profitability
Return on assets−11.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)21.8% · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
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Is Janux Therapeutics Inc (JANX) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $15.13 versus a price of $17.63, about 14% lower (overvalued).
What is the fair value of JANX?
Our model-based fair value for Janux Therapeutics Inc is $15.13 (as of Nov 6, 2026), built from audited fundamentals. The current price: $17.63.
What is the quality score of JANX?
Janux Therapeutics Inc has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Janux Therapeutics Inc (JANX)?
Our model-based price target is the fair value of $15.13 (as of Nov 6, 2026) from 1 valuation models. Cautious scenario $9.99, optimistic scenario $18.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Janux Therapeutics Inc stock forecast for 2026?
Our models put fair value at $15.13, about 14% lower versus a price of $17.63 (overvalued). Cautious scenario $9.99, optimistic scenario $18.92. The calculation is refreshed regularly with new filings.
What is the revenue of Janux Therapeutics Inc (JANX)?
Janux Therapeutics Inc reported trailing-twelve-month revenue of about $24.0M (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of Janux Therapeutics Inc (JANX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Janux Therapeutics Inc it is $15.13 per share (as of Nov 6, 2026), against a price of $17.63. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Janux Therapeutics Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, JANX trades above its calculated fair value: price $17.63, fair value $15.13, a gap of about −14% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JANX?
No. The price is what the market pays today ($17.63); the fair value is what the company's own numbers justify ($15.13). For Janux Therapeutics Inc the two are $2.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Janux Therapeutics Inc worth?
The market values Janux Therapeutics Inc at about $1.1B (market capitalisation, as of Nov 6, 2026). Per share that is $17.63; our models calculate a fair value of $15.13 per share.
What do the bullish and bearish scenarios say about JANX?
Our models span a range for Janux Therapeutics Inc: cautious scenario $9.99, base $15.13, optimistic $18.92 per share (as of Nov 6, 2026, price $17.63). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Janux Therapeutics Inc (JANX)?
Balance-sheet figures for Janux Therapeutics Inc (as of Nov 6, 2026): return on equity −10.7%. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is JANX from its 52-week high?
Janux Therapeutics Inc trades at $17.63, about 49% below its 52-week high of $34.74 and 45% above the low of $12.18 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $15.13 is for.
Which stocks are comparable to Janux Therapeutics Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Janux Therapeutics Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $17.63, calculated fair value $15.13 (−14%), Quality Score 26/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JANX calculated?
We run Janux Therapeutics Inc through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $15.13 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Janux Therapeutics Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Janux Therapeutics Inc (JANX)?
The closing price on Nov 6, 2026 was $17.63. Our model-based fair value is $15.13, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Janux Therapeutics Inc right now?
A fairly wide model range ($9.99 to $18.92) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Janux Therapeutics Inc
How large is the market capitalisation of Janux Therapeutics Inc (JANX)?
The market capitalisation of Janux Therapeutics Inc is $1.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Janux Therapeutics Inc (JANX)?
The price-to-sales ratio of Janux Therapeutics Inc is 40.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Janux Therapeutics Inc (JANX)?
Earnings per share at Janux Therapeutics Inc are $−1.64. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Janux Therapeutics Inc (JANX)?
The return on equity (ROE) of Janux Therapeutics Inc is −10.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Janux Therapeutics Inc (JANX)?
On an EBIT basis the return on assets of Janux Therapeutics Inc is −14.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Janux Therapeutics Inc (JANX)?
The operating margin of Janux Therapeutics Inc is −309% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Janux Therapeutics Inc (JANX)?
Revenue at Janux Therapeutics Inc is growing +21.8% versus a year earlier (3y avg +5.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Janux Therapeutics Inc (JANX) generate?
The free cash flow of Janux Therapeutics Inc is −$83.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Janux Therapeutics Inc (JANX) hold?
Janux Therapeutics Inc holds more cash than debt, $30.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 6, 2026
