Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $39.00

Jade Biosciences (NASDAQ:JBIO) had its price target boosted by BTIG Research from $28.00 to $39.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

JBIO has been the subject of several other reports. Wedbush reiterated an “outperform” rating and issued a $24.00 target price on shares of Jade Biosciences in a research report on Monday, March 9th. Zacks Research downgraded Jade Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. William Blair raised Jade Biosciences to a “strong-buy” rating in a research note on Monday, March 9th. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Jade Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.

Jade Biosciences Price Performance

Shares of JBIO opened at $13.78 on Monday. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $100.10. The company has a market capitalization of $679.63 million, a P/E ratio of -2.99 and a beta of 1.03. The firm’s 50 day simple moving average is $14.71 and its 200 day simple moving average is $12.27.

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

Institutional Trading of Jade Biosciences

Institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. grew its stake in shares of Jade Biosciences by 245.6% during the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after buying an additional 2,608,757 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of Jade Biosciences in the 2nd quarter valued at about $17,703,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the 4th quarter valued at about $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the 4th quarter valued at about $24,345,000. Finally, Versant Venture Management LLC bought a new position in Jade Biosciences during the 2nd quarter worth approximately $15,243,000.

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.