Jade Biosciences, Inc. (NASDAQ:JBIO) Receives $29.50 Average PT from Brokerages

Jade Biosciences, Inc. (NASDAQ:JBIO) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned 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 $29.50.

Several equities research analysts recently commented on JBIO shares. BTIG Research boosted their price target on Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Jade Biosciences in a research report on Monday, March 9th. Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Finally, HC Wainwright increased their price target on shares of Jade Biosciences from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th.

Jade Biosciences Stock Performance

Jade Biosciences stock opened at $15.49 on Thursday. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $100.10. The firm’s 50-day moving average is $14.57 and its 200-day moving average is $12.83. The company has a market cap of $763.97 million, a P/E ratio of -3.36 and a beta of 1.03.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. acquired a new stake in shares of Jade Biosciences in the second quarter valued at about $17,703,000. Geode Capital Management LLC acquired a new position in shares of Jade Biosciences during the 2nd quarter worth about $6,759,000. Affinity Asset Advisors LLC acquired a new position in shares of Jade Biosciences during the 2nd quarter worth about $653,000. XTX Topco Ltd bought a new stake in Jade Biosciences during the 2nd quarter valued at approximately $257,000. Finally, BNP Paribas Financial Markets acquired a new stake in Jade Biosciences in the 2nd quarter valued at approximately $32,000.

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.