Jade Biosciences, Inc. (NASDAQ:JBIO) Receives $47.12 Consensus Price Target from Brokerages

Jade Biosciences, Inc. (NASDAQ:JBIO) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.5714.

A number of equities analysts recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Jade Biosciences in a research note on Monday, June 1st. UBS Group assumed coverage on Jade Biosciences in a research note on Monday, June 15th. They issued a “buy” rating and a $45.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and set a $47.00 price objective on shares of Jade Biosciences in a report on Tuesday, June 2nd. Wall Street Zen downgraded Jade Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright raised their target price on shares of Jade Biosciences from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 1st.

Hedge Funds Weigh In On Jade Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. raised its position in shares of Jade Biosciences by 245.6% during the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock valued at $56,645,000 after buying an additional 2,608,757 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Jade Biosciences in the 1st quarter valued at about $43,557,000. Baker BROS. Advisors LP purchased a new position in Jade Biosciences in the fourth quarter worth about $25,323,000. Remedium Capital Partners LLC purchased a new position in Jade Biosciences in the fourth quarter worth about $24,345,000. Finally, Avidity Partners Management LP increased its stake in Jade Biosciences by 24.3% during the fourth quarter. Avidity Partners Management LP now owns 1,400,708 shares of the company’s stock worth $21,613,000 after acquiring an additional 273,522 shares during the last quarter.

Jade Biosciences Stock Performance

Shares of NASDAQ:JBIO opened at $21.34 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -10.56 and a beta of 1.43. The firm has a fifty day moving average price of $20.68 and a 200 day moving average price of $17.78. Jade Biosciences has a fifty-two week low of $6.67 and a fifty-two week high of $28.00.

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

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.