Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $77.00 at BTIG Research

Jade Biosciences (NASDAQ:JBIO) had its price target hoisted by investment analysts at BTIG Research from $74.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 254.35% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a research report on Tuesday, June 2nd. HC Wainwright lifted their price target on shares of Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 1st. Wedbush reiterated an “outperform” rating and issued a $47.00 price target on shares of Jade Biosciences in a research note on Monday. Weiss Ratings lowered Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen cut Jade Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and an average target price of $52.29.

Jade Biosciences Trading Down 1.0%

Shares of JBIO opened at $21.73 on Monday. The business’s 50 day moving average is $19.75 and its 200 day moving average is $18.57. Jade Biosciences has a 12-month low of $6.67 and a 12-month high of $28.00. The company has a market capitalization of $1.07 billion, a PE ratio of -10.76 and a beta of 1.49.

Jade Biosciences (NASDAQ:JBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). Equities research analysts predict that Jade Biosciences will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in shares of Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after purchasing an additional 819 shares during the period. Quantinno Capital Management LP raised its holdings in 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 buying an additional 1,059 shares during the period. Bank of America Corp DE raised its holdings in 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 buying an additional 1,086 shares during the period. Russell Investments Group Ltd. lifted its position in Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company’s stock worth $38,000 after buying an additional 1,279 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in Jade Biosciences by 16.5% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company’s stock worth $187,000 after buying an additional 1,709 shares during the period.

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.