Jade Biosciences (NASDAQ:JBIO) Given New $77.00 Price Target at BTIG Research

Key Points

• BTIG Research raised Jade Biosciences’ price target to $77 from $74 and maintained a “buy” rating, implying 254.35% potential upside from the current price.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $52.29; ratings include two Strong Buys and six Buys.
• Jade Biosciences’ shares opened at $21.73, while its latest quarterly loss of $0.76 per share missed the consensus estimate of $0.66. Analysts expect a full-year loss of $2.54 per share.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) had its target price boosted by analysts at BTIG Research from $74.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's target price would indicate a potential upside of 254.35% from the stock's current price.

Several other research firms have also recently weighed in on JBIO. Guggenheim restated a "buy" rating and issued a $47.00 price target on shares of Jade Biosciences in a research note on Tuesday, June 2nd. UBS Group initiated coverage on Jade Biosciences in a report on Monday, June 15th. They issued a "buy" rating and a $45.00 price objective for the company. Weiss Ratings lowered Jade Biosciences from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, June 16th. Piper Sandler set a $55.00 target price on shares of Jade Biosciences in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Jade Biosciences in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.29.

Jade Biosciences Stock Down 1.0%

NASDAQ:JBIO opened at $21.73 on Monday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -10.76 and a beta of 1.49. The company's 50 day moving average price is $19.75 and its 200-day moving average price is $18.57. Jade Biosciences has a 52 week low of $6.67 and a 52 week high of $28.00.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.76) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.10). As a group, sell-side analysts anticipate that Jade Biosciences will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Jade Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in 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. Quantinno Capital Management LP increased its holdings in Jade Biosciences by 3.6% in the 1st quarter. Quantinno Capital Management LP now owns 30,551 shares of the company's stock worth $429,000 after acquiring an additional 1,059 shares in the last quarter. Bank of America Corp DE lifted its holdings in Jade Biosciences by 2.9% during the first quarter. Bank of America Corp DE now owns 38,598 shares of the company's stock valued at $542,000 after purchasing an additional 1,086 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Jade Biosciences by 40.7% in the third quarter. Russell Investments Group Ltd. now owns 4,422 shares of the company's stock worth $38,000 after purchasing an additional 1,279 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Jade Biosciences by 16.5% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 12,097 shares of the company's stock worth $187,000 after purchasing an additional 1,709 shares in 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.

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