Jade Biosciences (NASDAQ:JBIO) Given New $55.00 Price Target at HC Wainwright

Jade Biosciences (NASDAQ:JBIO) had its price target lifted by research analysts at HC Wainwright from $45.00 to $55.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 211.60% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Guggenheim upped their price target on shares of Jade Biosciences from $23.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wedbush lifted their price objective on shares of Jade Biosciences from $24.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, BTIG Research restated a “buy” rating and issued a $39.00 target price on shares of Jade Biosciences in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Jade Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Jade Biosciences Price Performance

Shares of JBIO stock traded down $3.39 during trading hours on Monday, hitting $17.65. The stock had a trading volume of 666,662 shares, compared to its average volume of 465,003. The stock has a market capitalization of $871.25 million, a price-to-earnings ratio of -8.77 and a beta of 1.45. Jade Biosciences has a one year low of $6.57 and a one year high of $28.00. The stock’s 50-day moving average price is $20.47 and its two-hundred day moving average price is $16.44.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). As a group, equities research analysts predict that Jade Biosciences will post -2.43 earnings per share for the current fiscal year.

Institutional Trading of Jade Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in shares of Jade Biosciences during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Jade Biosciences in the second quarter worth approximately $31,000. BNP Paribas Financial Markets bought a new stake in shares of Jade Biosciences during the 2nd quarter worth approximately $32,000. California State Teachers Retirement System lifted its stake in shares of Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Jade Biosciences by 4,180.3% during the 3rd quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after acquiring an additional 5,100 shares during the period.

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.