Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $45.00

Jade Biosciences (NASDAQ:JBIO) had its price objective upped by Wedbush from $34.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 142.07% from the company’s current price.

Several other research firms have also recently weighed in on JBIO. HC Wainwright raised their price target on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday. Guggenheim restated a “buy” rating and issued a $47.00 price objective on shares of Jade Biosciences in a research report on Tuesday. Wall Street Zen downgraded shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

Jade Biosciences Trading Down 11.6%

Jade Biosciences stock opened at $18.59 on Tuesday. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $28.00. The firm has a market capitalization of $917.60 million, a PE ratio of -9.20 and a beta of 1.45. The firm’s 50 day simple moving average is $20.56 and its 200 day simple moving average is $16.50.

Jade Biosciences (NASDAQ:JBIO) last released 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). Research analysts forecast that Jade Biosciences will post -2.43 earnings per share for the current year.

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aberdeen Group plc purchased a new stake in Jade Biosciences in the fourth quarter worth about $13,382,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Jade Biosciences during the first quarter valued at approximately $353,000. Renaissance Technologies LLC boosted its position in shares of Jade Biosciences by 94.0% in the 1st quarter. Renaissance Technologies LLC now owns 135,039 shares of the company’s stock worth $1,897,000 after purchasing an additional 65,438 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after buying an additional 1,059 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Jade Biosciences by 2.9% in the 1st quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock worth $542,000 after buying an additional 1,086 shares during 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.