Jade Biosciences (NASDAQ:JBIO) Raised to “Strong-Buy” at William Blair

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

Several other equities analysts also recently weighed in on JBIO. HC Wainwright started coverage on shares of Jade Biosciences in a report on Wednesday, January 7th. They set a “buy” rating and a $25.00 price target on the stock. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Stifel Nicolaus set a $40.00 price objective on shares of Jade Biosciences in a research report on Friday. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.

Jade Biosciences Stock Up 2.7%

NASDAQ JBIO opened at $14.43 on Monday. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $100.10. The company has a market capitalization of $711.54 million, a P/E ratio of -3.13 and a beta of 1.03. The stock’s 50-day moving average price is $14.75 and its 200-day moving average price is $12.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of Jade Biosciences by 477.6% in the fourth quarter. Invesco Ltd. now owns 199,727 shares of the company’s stock worth $3,082,000 after purchasing an additional 165,151 shares during the last quarter. Ikarian Capital LLC bought a new position in Jade Biosciences during the fourth quarter valued at approximately $4,629,000. Virtus Investment Advisers LLC purchased a new position in Jade Biosciences during the 4th quarter valued at approximately $274,000. Opaleye Management Inc. purchased a new position in Jade Biosciences during the 4th quarter valued at approximately $6,598,000. Finally, Millennium Management LLC bought a new stake in Jade Biosciences in the 4th quarter worth approximately $969,000.

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.