Jade Biosciences (NASDAQ:JBIO) Upgraded by UBS Group to Strong-Buy Rating

Jade Biosciences (NASDAQ:JBIO) was upgraded by analysts at UBS Group to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently commented on JBIO. William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Stifel Nicolaus set a $40.00 price target on shares of Jade Biosciences in a research report on Friday, March 6th. Weiss Ratings upgraded shares of Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. Guggenheim restated a “buy” rating and set a $47.00 target price on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Finally, Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $47.13.

Jade Biosciences Stock Performance

NASDAQ:JBIO opened at $16.10 on Monday. The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $16.83. The firm has a market capitalization of $794.70 million, a PE ratio of -7.97 and a beta of 1.45. Jade Biosciences has a 52-week low of $6.61 and a 52-week high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Equities analysts forecast that Jade Biosciences will post -2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new position in shares of Jade Biosciences in the first quarter worth $43,557,000. RA Capital Management L.P. lifted its stake in Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences in the 4th quarter worth $25,323,000. Remedium Capital Partners LLC bought a new position in shares of Jade Biosciences during the 4th quarter valued at about $24,345,000. Finally, Aberdeen Group plc purchased a new position in shares of Jade Biosciences during the fourth quarter valued at about $13,382,000.

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.