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

Shares of Jade Biosciences, Inc. (NASDAQ:JBIO) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $24.00.

Several research firms have commented on JBIO. Lifesci Capital raised shares of Jade Biosciences to a “strong-buy” rating in a research report on Friday. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a research report on Friday. Guggenheim raised their target price on shares of Jade Biosciences from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th.

Jade Biosciences Stock Up 1.2%

Shares of NASDAQ:JBIO opened at $14.05 on Friday. The company has a market capitalization of $692.81 million, a price-to-earnings ratio of -3.05 and a beta of 1.03. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $100.10. The firm has a 50 day moving average of $14.78 and a 200 day moving average of $11.92.

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

Institutional Investors Weigh In On Jade Biosciences

Large investors have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Jade Biosciences by 477.6% in the 4th 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 during the last quarter. Ikarian Capital LLC purchased a new position in shares of Jade Biosciences in the fourth quarter worth $4,629,000. Virtus Investment Advisers LLC acquired a new stake in shares of Jade Biosciences during the fourth quarter worth $274,000. Opaleye Management Inc. purchased a new stake in shares of Jade Biosciences during the fourth quarter valued at $6,598,000. Finally, Millennium Management LLC purchased a new position in Jade Biosciences in the 4th quarter worth $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.