Jade Biosciences (NASDAQ:JBIO) Price Target Raised to $55.00 at HC Wainwright

Jade Biosciences (NASDAQ:JBIO) had its price objective lifted by research analysts at HC Wainwright from $45.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 211.60% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut Jade Biosciences from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Zacks Research raised Jade Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 8th. Stifel Nicolaus set a $40.00 price target on Jade Biosciences in a research report on Friday, March 6th. Lifesci Capital raised Jade Biosciences to a “strong-buy” rating in a research report on Friday, March 6th. Finally, Wall Street Zen downgraded Jade Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Jade Biosciences Trading Down 16.1%

NASDAQ JBIO traded down $3.39 during trading hours on Monday, hitting $17.65. 666,662 shares of the company’s stock traded hands, compared to its average volume of 465,003. Jade Biosciences has a 52 week low of $6.57 and a 52 week high of $28.00. The firm has a market capitalization of $871.25 million, a P/E ratio of -8.77 and a beta of 1.45. The business’s fifty day moving average price is $20.47 and its two-hundred day moving average price is $16.44.

Jade Biosciences (NASDAQ:JBIO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.05). On average, sell-side analysts expect that Jade Biosciences will post -2.43 EPS for the current fiscal year.

Institutional Trading of Jade Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in JBIO. Legal & General Group Plc bought a new position in Jade Biosciences in the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new stake in shares of Jade Biosciences during the second quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new position in shares of Jade Biosciences in the second quarter worth $32,000. California State Teachers Retirement System lifted its holdings in shares of Jade Biosciences by 40.3% in the fourth quarter. California State Teachers Retirement System now owns 2,850 shares of the company’s stock worth $44,000 after buying an additional 819 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Jade Biosciences by 4,180.3% during the third quarter. New York State Common Retirement Fund now owns 5,222 shares of the company’s stock worth $45,000 after acquiring an additional 5,100 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.