Jade Biosciences (NASDAQ:JBIO) Given New $34.00 Price Target at Wedbush

Jade Biosciences (NASDAQ:JBIO) had its price objective boosted by investment analysts at Wedbush from $24.00 to $34.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target indicates a potential upside of 31.73% from the stock’s current price.

Other equities analysts have also issued research reports about the company. HC Wainwright increased their target price on Jade Biosciences from $35.00 to $45.00 and gave the company a “buy” rating in a report on Monday, April 27th. Guggenheim increased their target price on Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Stifel Nicolaus set a $40.00 target price on Jade Biosciences in a report on Friday, March 6th. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings upgraded Jade Biosciences from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.83.

Jade Biosciences Stock Performance

Jade Biosciences stock opened at $25.81 on Monday. The stock has a market cap of $1.27 billion, a P/E ratio of -12.78 and a beta of 1.52. The company has a fifty day simple moving average of $17.63 and a 200-day simple moving average of $14.93. Jade Biosciences has a 12-month low of $6.57 and a 12-month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). As a group, sell-side analysts forecast that Jade Biosciences will post -2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jade Biosciences

Several institutional investors have recently added to or reduced their stakes in JBIO. Legal & General Group Plc purchased a new stake in Jade Biosciences during the second quarter worth approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences during the second quarter worth approximately $31,000. BNP Paribas Financial Markets purchased a new stake in Jade Biosciences during the second quarter worth approximately $32,000. California State Teachers Retirement System lifted its stake in Jade Biosciences by 40.3% in the fourth 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. Finally, New York State Common Retirement Fund lifted its stake in Jade Biosciences by 4,180.3% in the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock valued at $45,000 after buying an additional 5,100 shares during the last quarter.

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.