Brokerages Set Jade Biosciences, Inc. (NASDAQ:JBIO) Price Target at $20.80

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.80.

Several research firms recently weighed in on JBIO. Guggenheim boosted their price objective on shares of Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Wall Street Zen raised Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. HC Wainwright began coverage on Jade Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th.

Institutional Investors Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of JBIO. Legal & General Group Plc bought a new position in Jade Biosciences in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the 2nd quarter worth $31,000. BNP Paribas Financial Markets bought a new position in shares of Jade Biosciences in the 2nd quarter worth $32,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Jade Biosciences during the second quarter worth $33,000. Finally, New York State Common Retirement Fund increased its holdings in Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after purchasing an additional 5,100 shares during the last quarter.

Jade Biosciences Stock Up 1.5%

Shares of NASDAQ:JBIO opened at $15.03 on Wednesday. The firm has a market cap of $741.19 million, a P/E ratio of -1.35 and a beta of 1.02. Jade Biosciences has a 12 month low of $6.57 and a 12 month high of $100.10. The company’s 50-day moving average price is $15.17 and its two-hundred day moving average price is $11.17.

Jade Biosciences (NASDAQ:JBIO) last announced its earnings results on Friday, November 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09.

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.