Jade Biosciences (NASDAQ:JBIO) Given New $34.00 Price Target at Wedbush

Key Points

• Wedbush raised its price target on Jade Biosciences from $24 to $34 and kept an outperform rating, implying about 31.7% upside from the prior close.
• Analyst sentiment is mixed, but still constructive overall: the stock has an average Moderate Buy rating and an average price target of $32.83, though one firm recently downgraded it to sell.
• Jade Biosciences recently reported a wider-than-expected loss, posting EPS of -$0.57 versus estimates of -$0.52, while the stock was trading at $25.81 near its 1-year high of $28.00.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) had its price target boosted by investment analysts at Wedbush from $24.00 to $34.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 31.73% from the company's previous close.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Jade Biosciences from a "hold" rating to a "sell" rating in a report on Saturday. Stifel Nicolaus set a $40.00 price objective on Jade Biosciences in a report on Friday, March 6th. Lifesci Capital upgraded Jade Biosciences to a "strong-buy" rating in a report on Friday, March 6th. Zacks Research upgraded Jade Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Guggenheim raised their price objective on Jade Biosciences from $17.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.83.

Jade Biosciences Price Performance

Shares of JBIO stock opened at $25.81 on Monday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -12.78 and a beta of 1.52. The stock has a 50 day simple moving average of $17.63 and a 200-day simple moving average of $14.93. Jade Biosciences has a 1-year low of $6.57 and a 1-year high of $28.00.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.05). Analysts anticipate that Jade Biosciences will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jade Biosciences

Several institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in Jade Biosciences in the 1st quarter valued at about $353,000. Invesco Ltd. grew its position in Jade Biosciences by 477.6% in the 4th quarter. Invesco Ltd. now owns 199,727 shares of the company's stock valued at $3,082,000 after acquiring an additional 165,151 shares in the last quarter. Ikarian Capital LLC acquired a new position in Jade Biosciences in the 4th quarter valued at about $4,629,000. Virtus Investment Advisers LLC acquired a new position in Jade Biosciences in the 4th quarter valued at about $274,000. Finally, Opaleye Management Inc. acquired a new position in Jade Biosciences in the 4th quarter valued at about $6,598,000.

Jade Biosciences Company Profile

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.

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