Jade Biosciences, Inc. (NASDAQ:JBIO) Receives $47.12 Consensus Target Price from Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $51.5714.

A number of analysts have recently weighed in on the stock. BTIG Research increased their price objective on shares of Jade Biosciences from $39.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Jade Biosciences in a report on Monday, June 1st. UBS Group began coverage on Jade Biosciences in a research report on Monday, June 15th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wall Street Zen cut Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JBIO. JPMorgan Chase & Co. purchased a new stake in Jade Biosciences in the 2nd quarter worth approximately $154,000. Legal & General Group Plc purchased a new position in shares of Jade Biosciences during the 2nd quarter valued at approximately $29,000. Rhumbline Advisers purchased a new position in shares of Jade Biosciences during the 2nd quarter valued at approximately $445,000. Russell Investments Group Ltd. acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at $31,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Jade Biosciences in the 2nd quarter valued at $114,000.

Jade Biosciences Stock Down 6.3%

Shares of NASDAQ JBIO opened at $20.48 on Friday. Jade Biosciences has a 52 week low of $6.67 and a 52 week high of $28.00. The business’s 50 day moving average price is $20.54 and its 200 day moving average price is $17.84. The firm has a market cap of $1.01 billion, a P/E ratio of -10.14 and a beta of 1.43.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). As a group, research analysts expect that Jade Biosciences will post -2.54 earnings per share for the current year.

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.