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

Jade Biosciences, Inc. (NASDAQ:JBIO) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $47.1250.

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Jade Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Wedbush lifted their price target on Jade Biosciences from $34.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Guggenheim reiterated a “buy” rating and set a $47.00 price target on shares of Jade Biosciences in a research report on Tuesday, June 2nd. Lifesci Capital upgraded Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Finally, Piper Sandler set a $55.00 price target on Jade Biosciences in a research report on Tuesday, June 2nd.

Jade Biosciences Stock Performance

Shares of JBIO stock opened at $16.10 on Tuesday. Jade Biosciences has a 1 year low of $6.61 and a 1 year high of $28.00. The stock has a market cap of $794.70 million, a PE ratio of -7.97 and a beta of 1.45. The business’s fifty day moving average is $21.00 and its 200-day moving average is $16.83.

Jade Biosciences (NASDAQ:JBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Equities research analysts predict that Jade Biosciences will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Jade Biosciences

A number of hedge funds have recently modified their holdings of JBIO. Legal & General Group Plc acquired a new position in shares of Jade Biosciences in the 2nd quarter worth $29,000. Russell Investments Group Ltd. acquired a new position in shares of Jade Biosciences in the 2nd quarter worth $31,000. BNP Paribas Financial Markets acquired a new position in shares of Jade Biosciences in the 2nd quarter worth $32,000. California State Teachers Retirement System grew its holdings in shares of Jade Biosciences by 40.3% in the 4th quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after acquiring an additional 819 shares during the last quarter. Finally, Group One Trading LLC grew its holdings in shares of Jade Biosciences by 122.9% in the 4th quarter. Group One Trading LLC now owns 4,195 shares of the company’s stock worth $65,000 after acquiring an additional 22,527 shares during 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.