Brokerages Set Jade Biosciences, Inc. (NASDAQ:JBIO) Price Target at $51.57

Jade Biosciences, Inc. (NASDAQ:JBIO) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $51.75.

A number of research firms have recently issued reports on JBIO. Wall Street Zen downgraded shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 target price on shares of Jade Biosciences in a report on Tuesday. Piper Sandler set a $55.00 target price on Jade Biosciences in a research report on Tuesday, June 2nd. UBS Group began coverage on Jade Biosciences in a research note on Monday, June 15th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wedbush lifted their price objective on Jade Biosciences from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday.

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of JBIO. JPMorgan Chase & Co. purchased a new stake in Jade Biosciences during the second quarter worth about $154,000. Legal & General Group Plc acquired a new stake in shares of Jade Biosciences during the second quarter worth about $29,000. Rhumbline Advisers purchased a new position in shares of Jade Biosciences in the second quarter valued at approximately $445,000. Russell Investments Group Ltd. purchased a new position in shares of Jade Biosciences in the second quarter valued at approximately $31,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Jade Biosciences in the second quarter valued at approximately $114,000.

Jade Biosciences Trading Up 3.8%

Shares of NASDAQ:JBIO opened at $23.21 on Thursday. The business has a 50-day moving average price of $19.95 and a 200 day moving average price of $18.66. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.09 and a beta of 1.49. Jade Biosciences has a 12-month low of $6.67 and a 12-month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.10). As a group, equities research analysts predict that Jade Biosciences will post -2.79 earnings per share for the current fiscal year.

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.