Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $39.00 at BTIG Research

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

Other research analysts also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of Jade Biosciences in a research report on Monday, March 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a research note on Friday, March 6th. Finally, Zacks Research lowered shares of Jade Biosciences from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.83.

Jade Biosciences Stock Performance

NASDAQ JBIO opened at $13.92 on Monday. The stock has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $12.17. The firm has a market capitalization of $686.53 million, a P/E ratio of -3.02 and a beta of 1.03. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.34.

Institutional Trading of Jade Biosciences

A number of hedge funds have recently bought and sold shares of JBIO. California State Teachers Retirement System grew its position in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Jade Biosciences by 40.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock valued at $38,000 after acquiring an additional 1,279 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of 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 valued at $187,000 after purchasing an additional 1,709 shares during the period. The Manufacturers Life Insurance Company increased its position in Jade Biosciences by 26.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,012 shares of the company’s stock worth $216,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Jade Biosciences during the second quarter worth about $29,000.

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.