Jade Biosciences’ (JBIO) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Jade Biosciences (NASDAQ:JBIO) in a research note released on Monday,Benzinga reports. Wedbush currently has a $24.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen raised shares of Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a report on Friday. HC Wainwright assumed coverage on Jade Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $25.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Finally, Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Jade Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Jade Biosciences Stock Performance

Shares of JBIO stock opened at $14.43 on Monday. The company has a market capitalization of $711.54 million, a P/E ratio of -3.13 and a beta of 1.03. Jade Biosciences has a fifty-two week low of $6.57 and a fifty-two week high of $100.10. The stock has a 50 day moving average price of $14.75 and a two-hundred day moving average price of $12.00.

Jade Biosciences (NASDAQ:JBIO) last issued its earnings results on Friday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in Jade Biosciences during the 2nd quarter valued at about $29,000. Russell Investments Group Ltd. purchased a new stake in Jade Biosciences in the second quarter worth about $31,000. BNP Paribas Financial Markets bought a new position in shares of Jade Biosciences during the second quarter valued at approximately $32,000. Ameritas Investment Partners Inc. bought a new position in shares of Jade Biosciences during the second quarter valued at approximately $33,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Jade Biosciences by 40.3% during the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock valued at $44,000 after purchasing an additional 819 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.