Jade Biosciences (NASDAQ:JBIO) Receives “Outperform” Rating from Wedbush

Jade Biosciences (NASDAQ:JBIO)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report released on Monday,Benzinga reports. They currently have a $24.00 price target on the stock. Wedbush’s target price indicates a potential upside of 70.82% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. HC Wainwright initiated coverage on shares of Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 price target for the company. Stifel Nicolaus set a $40.00 price target on shares of Jade Biosciences in a report on Friday. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Guggenheim raised their target price on Jade Biosciences from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. One analyst has 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Jade Biosciences Stock Performance

Shares of Jade Biosciences stock opened at $14.05 on Monday. Jade Biosciences has a one year low of $6.57 and a one year high of $100.10. The company has a market cap of $692.81 million, a price-to-earnings ratio of -3.05 and a beta of 1.03. The business’s 50 day moving average price is $14.78 and its 200 day moving average price is $11.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Jade Biosciences by 40.3% in 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 period. Legal & General Group Plc acquired a new position in Jade Biosciences in the 2nd quarter valued at about $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences during the second quarter worth about $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Jade Biosciences during the second quarter worth about $32,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Jade Biosciences during the second quarter worth about $33,000.

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.