Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $35.00 at HC Wainwright

Jade Biosciences (NASDAQ:JBIO) had its price target hoisted by stock analysts at HC Wainwright from $25.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 163.95% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. BTIG Research raised their price target on shares of Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Guggenheim raised their target price on Jade Biosciences from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Zacks Research lowered Jade Biosciences from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $24.00 price target on shares of Jade Biosciences in a research note on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Jade Biosciences Stock Performance

Jade Biosciences stock opened at $13.26 on Wednesday. The firm has a market capitalization of $653.98 million, a PE ratio of -2.88 and a beta of 1.03. Jade Biosciences has a one year low of $6.57 and a one year high of $100.10. The stock’s 50 day moving average price is $14.73 and its 200 day moving average price is $12.47.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings data 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

A number of large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased its position in shares of Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Jade Biosciences during the second quarter worth about $17,703,000. Baker BROS. Advisors LP bought a new position in shares of Jade Biosciences during the fourth quarter worth about $25,323,000. Remedium Capital Partners LLC acquired a new position in Jade Biosciences in the fourth quarter worth about $24,345,000. Finally, Avidity Partners Management LP grew its stake in Jade Biosciences by 24.3% in the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after purchasing an additional 273,522 shares in the last quarter.

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.