Jade Biosciences (NASDAQ:JBIO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Jade Biosciences (NASDAQ:JBIO) had its price objective upped by analysts at HC Wainwright from $25.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 150.90% from the stock’s current price.

JBIO has been the topic of several other research reports. Lifesci Capital upgraded shares of Jade Biosciences to a “strong-buy” rating in a report on Friday, March 6th. Guggenheim lifted their target price on shares of Jade Biosciences from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Wedbush reissued an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research report on Monday, March 9th. BTIG Research upped their price target on shares of Jade Biosciences from $28.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, William Blair raised shares of Jade Biosciences to a “strong-buy” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Jade Biosciences Price Performance

Shares of JBIO stock opened at $13.95 on Wednesday. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $100.10. The stock’s fifty day moving average price is $14.70 and its 200 day moving average price is $12.50. The company has a market cap of $688.01 million, a price-to-earnings ratio of -3.03 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last announced its earnings results 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 Investors Weigh In On Jade Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Jade Biosciences by 477.6% in the 4th quarter. Invesco Ltd. now owns 199,727 shares of the company’s stock worth $3,082,000 after buying an additional 165,151 shares during the period. Ikarian Capital LLC purchased a new position in Jade Biosciences during the 4th quarter worth approximately $4,629,000. Virtus Investment Advisers LLC acquired a new stake in Jade Biosciences during the 4th quarter valued at approximately $274,000. Opaleye Management Inc. acquired a new stake in Jade Biosciences during the 4th quarter valued at approximately $6,598,000. Finally, Millennium Management LLC purchased a new stake in shares of Jade Biosciences in the 4th quarter valued at $969,000.

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.