Jade Biosciences (NASDAQ:JBIO) Stock Price Expected to Rise, BTIG Research Analyst Says

Jade Biosciences (NASDAQ:JBIO) had its price target raised by stock analysts at BTIG Research from $28.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 180.17% from the company’s previous close.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Guggenheim increased their target price on Jade Biosciences from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. HC Wainwright began coverage on shares of Jade Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price target on the stock. Finally, William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.83.

Jade Biosciences Trading Up 0.4%

NASDAQ JBIO opened at $13.92 on Monday. The stock has a fifty day simple moving average of $14.66 and a 200-day simple moving average of $12.17. The stock has a market cap of $686.53 million, a PE ratio of -3.02 and a beta of 1.03. Jade Biosciences has a twelve month low of $6.57 and a twelve month high of $100.10.

Jade Biosciences (NASDAQ:JBIO) last posted its earnings results on Friday, March 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.34.

Hedge Funds Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in JBIO. California State Teachers Retirement System increased its stake in shares of Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after buying an additional 819 shares during the period. Russell Investments Group Ltd. lifted its stake in Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after acquiring an additional 1,279 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after acquiring an additional 1,709 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Jade Biosciences by 26.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock worth $216,000 after acquiring an additional 2,940 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Jade Biosciences in the 2nd quarter valued at approximately $29,000.

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.