Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $23.00 at Guggenheim

Jade Biosciences (NASDAQ:JBIO) had its price target hoisted by Guggenheim from $17.00 to $23.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

JBIO has been the topic of a number of other reports. Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a report on Friday, March 6th. Wedbush reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Jade Biosciences in a research note on Monday. William Blair upgraded shares of Jade Biosciences to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $26.00.

Jade Biosciences Stock Down 3.2%

JBIO opened at $14.02 on Wednesday. The business’s fifty day simple moving average is $14.70 and its 200 day simple moving average is $12.06. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $100.10. The stock has a market cap of $691.47 million, a PE ratio of -3.04 and a beta of 1.03.

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

Hedge Funds Weigh In On Jade Biosciences

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in Jade Biosciences in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the second quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Jade Biosciences in the second quarter worth $32,000. Ameritas Investment Partners Inc. purchased a new position in shares of Jade Biosciences in the second quarter worth $33,000. Finally, California State Teachers Retirement System raised its holdings in Jade Biosciences by 40.3% during the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after buying an additional 819 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.