Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $45.00 at Wedbush

Jade Biosciences (NASDAQ:JBIO) had its price objective upped by investment analysts at Wedbush from $34.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 142.07% from the stock’s current price.

A number of other brokerages have also commented on JBIO. William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Wall Street Zen lowered Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating on shares of Jade Biosciences in a report on Monday. BTIG Research reiterated a “buy” rating on shares of Jade Biosciences in a report on Monday. Finally, Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Jade Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Jade Biosciences Trading Down 11.6%

Shares of Jade Biosciences stock opened at $18.59 on Tuesday. The company has a market cap of $917.60 million, a P/E ratio of -9.20 and a beta of 1.45. The business has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $16.50. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Equities research analysts forecast that Jade Biosciences will post -2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. lifted its position in shares of Jade Biosciences by 245.6% during the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after acquiring 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 1st quarter valued at $43,557,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the 4th quarter worth about $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the 4th quarter worth about $24,345,000. Finally, Avidity Partners Management LP boosted its stake in Jade Biosciences by 24.3% in the 4th quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after purchasing an additional 273,522 shares during the period.

About Jade Biosciences

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.