Jade Biosciences, Inc. (NASDAQ:JBIO) Receives $34.33 Average Price Target from Brokerages

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $34.3333.

Several equities research analysts recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $39.00 price objective on shares of Jade Biosciences in a report on Wednesday. Zacks Research raised Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a report on Friday, March 6th. Guggenheim boosted their target price on shares of Jade Biosciences from $23.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th.

Institutional Trading of Jade Biosciences

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of Jade Biosciences by 2.9% during the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after acquiring an additional 1,086 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Jade Biosciences during the 1st quarter valued at about $2,164,000. Janus Henderson Group PLC bought a new stake in shares of Jade Biosciences during the 1st quarter valued at about $43,557,000. Quantinno Capital Management LP boosted its position in shares of Jade Biosciences by 3.6% during the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock valued at $429,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Jade Biosciences by 94.0% during the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock valued at $1,897,000 after acquiring an additional 65,438 shares during the last quarter.

Jade Biosciences Stock Down 3.1%

Jade Biosciences stock opened at $20.84 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of -10.32 and a beta of 1.52. The company’s 50 day moving average price is $20.33 and its two-hundred day moving average price is $16.36. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). On average, equities analysts anticipate that Jade Biosciences will post -2.43 EPS 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.