Jade Biosciences (NASDAQ:JBIO) Receives Buy Rating from BTIG Research

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $39.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 79.64% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Wedbush boosted their price target on Jade Biosciences from $24.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a research report on Friday, March 6th. Wall Street Zen downgraded shares of Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Guggenheim increased their price target on shares of Jade Biosciences from $23.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Jade Biosciences has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $21.71 on Wednesday. The business’s 50 day simple moving average is $20.04 and its 200 day simple moving average is $16.19. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $28.00. The company has a market capitalization of $1.07 billion, a P/E ratio of -10.75 and a beta of 1.52.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). On average, sell-side analysts anticipate that Jade Biosciences will post -2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. increased its position in Jade Biosciences by 245.6% during the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Jade Biosciences during the first quarter worth $43,557,000. Baker BROS. Advisors LP bought a new stake in shares of Jade Biosciences during the fourth quarter worth $25,323,000. Remedium Capital Partners LLC acquired a new position in shares of Jade Biosciences during the fourth quarter worth $24,345,000. Finally, Avidity Partners Management LP lifted its stake in shares of Jade Biosciences by 24.3% in the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock valued at $21,613,000 after acquiring an additional 273,522 shares during the last quarter.

Jade Biosciences Company Profile

Jade Biosciences, Inc is a clinical?stage biotechnology company focused on the discovery and development of novel therapeutics for inflammatory skin diseases and chronic itch. Leveraging a small?molecule platform, the company seeks to address significant unmet needs in dermatology by targeting key pathways involved in pruritus and skin inflammation. Its research efforts are centered on identifying and advancing molecules that can modulate receptor activity in the skin, with a goal of improving safety and efficacy compared to existing treatments.

The company’s lead programs are built around proprietary compounds designed to penetrate the epidermal barrier and selectively inhibit molecular drivers of itch and inflammation.