Jade Biosciences, Inc. (NASDAQ:JBIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Jade Biosciences, Inc. (NASDAQ:JBIO) has earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.1667.

A number of research analysts have recently issued reports on the company. BTIG Research boosted their price objective on Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 16th. William Blair raised Jade Biosciences to a “strong-buy” rating in a research report on Monday, March 9th. Weiss Ratings raised Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, April 24th. Wedbush reissued an “outperform” rating and set a $24.00 price objective on shares of Jade Biosciences in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a report on Friday, March 6th.

Jade Biosciences Price Performance

Shares of NASDAQ:JBIO opened at $24.23 on Monday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.26 and a beta of 1.51. The business’s 50-day moving average is $16.98 and its 200-day moving average is $14.61. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $28.00.

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. Analysts anticipate that Jade Biosciences will post -2.21 EPS for the current year.

Institutional Trading of Jade Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new stake in Jade Biosciences during the 1st quarter worth approximately $353,000. Invesco Ltd. increased its holdings in Jade Biosciences by 477.6% during the 4th quarter. Invesco Ltd. now owns 199,727 shares of the company’s stock worth $3,082,000 after purchasing an additional 165,151 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of Jade Biosciences in the fourth quarter valued at approximately $4,629,000. Virtus Investment Advisers LLC bought a new position in shares of Jade Biosciences in the fourth quarter valued at approximately $274,000. Finally, Opaleye Management Inc. bought a new position in shares of Jade Biosciences in the fourth quarter valued at approximately $6,598,000.

About Jade Biosciences

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.