Jade Biosciences, Inc. (NASDAQ:JBIO) Given Average Rating of “Moderate Buy” by Analysts

Jade Biosciences, Inc. (NASDAQ:JBIO) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $51.75.

Several equities research analysts recently issued reports on the company. Piper Sandler set a $55.00 price objective on Jade Biosciences in a research note on Tuesday, June 2nd. BTIG Research lifted their target price on shares of Jade Biosciences from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. HC Wainwright boosted their price objective on Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Guggenheim reiterated a “buy” rating and set a $47.00 target price on shares of Jade Biosciences in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Jade Biosciences in a report on Tuesday, August 11th.

Jade Biosciences Stock Performance

JBIO opened at $20.84 on Monday. The company has a 50 day moving average of $21.42 and a 200 day moving average of $19.21. The company has a market cap of $1.33 billion, a PE ratio of -10.85 and a beta of 1.49. Jade Biosciences has a 12 month low of $6.91 and a 12 month high of $28.00.

Jade Biosciences (NASDAQ:JBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). Research analysts forecast that Jade Biosciences will post -2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in Jade Biosciences during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in Jade Biosciences during the second quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Jade Biosciences in the 2nd quarter worth $32,000. California State Teachers Retirement System boosted its position 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 worth $44,000 after purchasing an additional 819 shares during the last quarter. Finally, Group One Trading LLC boosted its holdings in shares of Jade Biosciences by 122.9% in the fourth quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after buying an additional 22,527 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.