Jade Biosciences (NASDAQ:JBIO) Upgraded to Strong-Buy at William Blair

William Blair upgraded shares of Jade Biosciences (NASDAQ:JBIO) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research report on Friday. Wedbush restated an “outperform” rating and issued a $24.00 price objective on shares of Jade Biosciences in a report on Monday. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a report on Friday. Guggenheim boosted their target price on Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Jade Biosciences has a consensus rating of “Buy” and an average price target of $25.00.

Jade Biosciences Trading Up 2.7%

Shares of Jade Biosciences stock opened at $14.43 on Monday. The firm has a market capitalization of $711.54 million, a PE ratio of -3.13 and a beta of 1.03. The firm’s 50-day moving average price is $14.75 and its 200 day moving average price is $12.00. Jade Biosciences has a twelve month low of $6.57 and a twelve month high of $100.10.

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

Institutional Inflows and Outflows

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

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.