Shares of Janux Therapeutics, Inc. (JANX) are soaring 5.05% in Wednesday's pre-market trading session, following a bullish analyst report from Bank of America Securities. The surge comes as investors react positively to the reiterated Buy rating on the biopharmaceutical company's stock.

Alec Stranahan, an analyst at Bank of America Securities, maintained a Buy rating on Janux Therapeutics in a report released early Wednesday. While the specific price target was not disclosed in the available information, the analyst's continued confidence in the company appears to be driving investor enthusiasm.

Janux Therapeutics, known for its innovative approach to cancer therapeutics, has been gaining attention in the biotech sector. The company's strong clinical profile and strategic trial designs likely contribute to the positive outlook from analysts. As the biopharmaceutical industry continues to evolve, Janux's potential in developing novel cancer treatments seems to be resonating with both analysts and investors alike.