Janux Therapeutics Inc (JANX) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Janux Therapeutics Inc $15.13, price $16.52, upside -8.4%, quality 20 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $5.85 – $66.84 · fair‑value band $9.99 – $18.92 · the $16.52 price screens above the $15.13 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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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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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. 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 $16.52, while our model-based Fair Value estimate is $15.13, implying the stock looks roughly 9.2% fairly valued 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 evidence level at low.
Scenario range: $9.99 (bear) to $18.92 (bull), the price of $16.52 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 20/100 (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 $1.0B · P/S ratio 41.9 · EPS (TTM) $−1.56 · Return on equity −10.7% · Return on assets (EBIT) −14.2% · Operating margin −309% · Revenue (TTM) $24.0M · Revenue growth (YoY) +21.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 36% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −8%, JANX screens richer than that median.
Fair Value models
Bear $9.99Fair Value $15.13Bull $18.92
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.
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 · 653 stocks
Beats the industry median on 4/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside−8% · Above median
Profitability
Return on assets−9% · Above median
Growth and dividend
Revenue growth22% · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
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Is Janux Therapeutics Inc (JANX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $15.13 versus a price of $16.52, about −8% upside (fairly valued).
What is the fair value of JANX?
Our model-based fair value for Janux Therapeutics Inc is $15.13 (as of Sep 24, 2026), built from audited fundamentals. The current price: $16.52.
What is the quality score of JANX?
Janux Therapeutics Inc has a Quality Score of 20/100. 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 Sep 24, 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 −8% upside versus a price of $16.52 (fairly valued). 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 Sep 24, 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 Sep 24, 2026), against a price of $16.52. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Janux Therapeutics Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, JANX trades above its calculated fair value: price $16.52, fair value $15.13, a gap of about −8% (fairly valued). 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 ($16.52); the fair value is what the company's own numbers justify ($15.13). For Janux Therapeutics Inc the two are $1.39 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 $1.0B (market capitalisation, as of Sep 24, 2026). Per share that is $16.52; 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 Sep 24, 2026, price $16.52). 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 Sep 24, 2026): return on equity −10.7%. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is JANX from its 52-week high?
Janux Therapeutics Inc trades at $16.52, about 52% below its 52-week high of $34.74 and 36% above the low of $12.18 (as of Sep 23, 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, argenx SE, Samsung Biologics Co, 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 Sep 24, 2026: price $16.52, calculated fair value $15.13 (−8%), Quality Score 20/100, 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 four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $15.13, 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 14.1 % 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 Sep 23, 2026 was $16.52. Our model-based fair value is $15.13, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Janux Therapeutics Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 $1.0B. 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 41.9 (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 $−1.56. 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
Sep 24, 2026