Jade Biosciences, Inc. (NASDAQ:JBIO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Jade Biosciences, Inc. (NASDAQ:JBIO) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $51.5714.

A number of brokerages have recently commented on JBIO. Zacks Research raised Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Jefferies Financial Group restated a “buy” rating on shares of Jade Biosciences in a report on Monday, June 1st. Weiss Ratings downgraded shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. BTIG Research increased their price objective on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, UBS Group assumed coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 target price on the stock.

Jade Biosciences Price Performance

Jade Biosciences stock opened at $20.86 on Friday. Jade Biosciences has a 12-month low of $6.67 and a 12-month high of $28.00. The stock has a market capitalization of $1.03 billion, a P/E ratio of -10.33 and a beta of 1.43. The firm’s 50-day moving average is $20.44 and its two-hundred day moving average is $17.86.

Jade Biosciences (NASDAQ:JBIO) last issued 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, analysts forecast that Jade Biosciences will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Jade Biosciences

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new stake in shares of Jade Biosciences during the 1st quarter worth $43,557,000. RA Capital Management L.P. boosted its holdings in Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after acquiring an additional 2,608,757 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the fourth quarter valued at about $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the fourth quarter valued at about $24,345,000. Finally, Aberdeen Group plc acquired a new stake in Jade Biosciences during the fourth quarter worth about $13,382,000.

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.