Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $77.00 at BTIG Research

Jade Biosciences (NASDAQ:JBIO) had its price objective raised by BTIG Research from $74.00 to $77.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on JBIO. Guggenheim restated a “buy” rating and issued a $47.00 price objective on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. Piper Sandler set a $55.00 price target on shares of Jade Biosciences in a research report on Tuesday, June 2nd. UBS Group began coverage on shares of Jade Biosciences in a research report on Monday, June 15th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Wall Street Zen cut shares of Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Jade Biosciences has an average rating of “Moderate Buy” and an average target price of $52.29.

Jade Biosciences Price Performance

Shares of JBIO opened at $21.73 on Monday. The firm has a market cap of $1.07 billion, a PE ratio of -10.76 and a beta of 1.49. The stock’s fifty day moving average price is $19.75 and its two-hundred day moving average price is $18.57. Jade Biosciences has a 1 year low of $6.67 and a 1 year high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). Sell-side analysts anticipate that Jade Biosciences will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Jade Biosciences

A number of large investors have recently modified their holdings of JBIO. Bank of New York Mellon Corp bought a new position in shares of Jade Biosciences in the second quarter worth approximately $1,896,000. Bank of America Corp DE lifted its position in Jade Biosciences by 2.9% during the first quarter. Bank of America Corp DE now owns 38,598 shares of the company’s stock valued at $542,000 after purchasing an additional 1,086 shares during the last quarter. Stempoint Capital LP purchased a new position in Jade Biosciences in the 1st quarter worth approximately $2,164,000. Janus Henderson Group PLC purchased a new position in Jade Biosciences in the 1st quarter worth approximately $43,557,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company’s stock worth $429,000 after buying an additional 1,059 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.