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

Jade Biosciences (NASDAQ:JBIO) had its price objective hoisted by equities researchers at Guggenheim from $17.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 65.95% from the stock’s previous close.

JBIO has been the subject of several other reports. Stifel Nicolaus set a $40.00 target price on shares of Jade Biosciences in a research note on Friday, March 6th. Wall Street Zen upgraded Jade Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jade Biosciences in a research report on Monday, December 29th. 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 for the company. Finally, Wedbush reiterated an “outperform” rating and set a $24.00 target price on shares of Jade Biosciences in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Jade Biosciences Trading Down 1.1%

Shares of JBIO stock opened at $13.86 on Wednesday. The firm has a 50-day moving average price of $14.66 and a 200 day moving average price of $12.07. Jade Biosciences has a twelve month low of $6.57 and a twelve month high of $100.10. The company has a market capitalization of $683.58 million, a price-to-earnings ratio of -3.01 and a beta of 1.03.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly 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

Several hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. increased its position in shares of Jade Biosciences by 245.6% in the fourth quarter. RA Capital Management L.P. now owns 3,671,083 shares of the company’s stock worth $56,645,000 after acquiring an additional 2,608,757 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Jade Biosciences during the 2nd quarter valued at $17,703,000. Baker BROS. Advisors LP purchased a new stake in Jade Biosciences during the 4th quarter worth $25,323,000. Remedium Capital Partners LLC purchased a new stake in Jade Biosciences during the 4th quarter worth $24,345,000. Finally, Versant Venture Management LLC acquired a new stake in Jade Biosciences in the 2nd quarter valued at $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.