Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $34.00

Jade Biosciences (NASDAQ:JBIO) had its price objective boosted by Wedbush from $24.00 to $34.00 in a research note published on Monday, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently weighed in on the company. Guggenheim upped their price target on Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Wall Street Zen cut Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, April 24th. HC Wainwright upped their price target on Jade Biosciences from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.33.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $25.07 on Monday. The business’s fifty day moving average price is $18.49 and its two-hundred day moving average price is $15.36. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $28.00. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -12.41 and a beta of 1.52.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Research analysts expect that Jade Biosciences will post -2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Several large investors have recently made changes to their positions in JBIO. Legal & General Group Plc acquired a new position in shares of Jade Biosciences during the second quarter valued at $29,000. Russell Investments Group Ltd. acquired a new position in shares of Jade Biosciences during the second quarter valued at $31,000. BNP Paribas Financial Markets acquired a new position in shares of Jade Biosciences during the second quarter valued at $32,000. California State Teachers Retirement System lifted 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 valued at $44,000 after acquiring an additional 819 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Jade Biosciences by 4,180.3% during the third 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.