William Blair Upgrades Jade Biosciences (NASDAQ:JBIO) to Strong-Buy

Jade Biosciences (NASDAQ:JBIO) was upgraded by equities research analysts at William Blair to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently commented on JBIO. Stifel Nicolaus set a $40.00 target price on Jade Biosciences in a research note on Friday. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jade Biosciences in a report on Monday, December 29th. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Wedbush reissued an “outperform” rating and set a $24.00 price objective on shares of Jade Biosciences in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $25.00.

Jade Biosciences Price Performance

JBIO stock opened at $14.48 on Monday. The firm has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $12.05. The stock has a market cap of $714.15 million, a PE ratio of -3.14 and a beta of 1.03. Jade Biosciences has a one year low of $6.57 and a one year high of $100.10.

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

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 Jade Biosciences by 245.6% in the 4th quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after purchasing an additional 2,608,757 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Jade Biosciences during the second quarter valued at about $17,703,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the fourth quarter valued at about $25,323,000. Remedium Capital Partners LLC bought a new position in shares of Jade Biosciences during the fourth quarter valued at about $24,345,000. Finally, Versant Venture Management LLC bought a new position in shares of Jade Biosciences during the second quarter valued at about $15,243,000.

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.