Jade Biosciences (NASDAQ:JBIO) Stock Rating Upgraded by William Blair

Jade Biosciences (NASDAQ:JBIO) was upgraded by research analysts at William Blair to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

JBIO has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research report on Monday. HC Wainwright started coverage on Jade Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target for the company. Guggenheim boosted their price objective on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Finally, Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Jade Biosciences currently has a consensus rating of “Buy” and an average price target of $25.00.

Jade Biosciences Stock Up 2.7%

Jade Biosciences stock opened at $14.43 on Monday. The company has a market cap of $711.54 million, a price-to-earnings ratio of -3.13 and a beta of 1.03. The firm’s fifty day moving average is $14.75 and its 200 day moving average is $12.00. Jade Biosciences has a 52-week low of $6.57 and a 52-week high of $100.10.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Jade Biosciences in the 2nd quarter valued at about $29,000. Russell Investments Group Ltd. purchased a new position in shares of Jade Biosciences during the second quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Jade Biosciences during the second quarter worth approximately $32,000. Ameritas Investment Partners Inc. bought a new stake in shares of Jade Biosciences during the second quarter valued at approximately $33,000. Finally, California State Teachers Retirement System raised its stake in shares of Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after acquiring an additional 819 shares in the last quarter.

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.