BTIG Research Begins Coverage on Jade Biosciences (NASDAQ:JBIO)

Key Points

• BTIG Research has initiated coverage on Jade Biosciences (NASDAQ:JBIO), setting a "buy" rating with a price target of $28.00, indicating a potential upside of 197.87% from its previous close.
• Jade Biosciences recently reported a quarterly EPS of ($0.86), missing analysts' expectations of ($0.43).
• Despite mixed ratings from different analysts, the overall consensus rating for Jade Biosciences stands at "Moderate Buy" with a target price averaging $19.00.

Research analysts at BTIG Research initiated coverage on shares of Jade Biosciences (NASDAQ:JBIO - Get Free Report) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $28.00 price target on the stock. BTIG Research's target price would suggest a potential upside of 197.87% from the stock's previous close.

JBIO has been the subject of a number of other reports. Wall Street Zen cut shares of Jade Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Jefferies Financial Group initiated coverage on Jade Biosciences in a report on Monday, July 14th. They set a "buy" rating and a $16.00 target price for the company. Guggenheim raised Jade Biosciences from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a report on Monday, June 16th. Wedbush lifted their target price on Jade Biosciences from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Finally, Weiss Ratings reissued a "sell (e-)" rating on shares of Jade Biosciences in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Jade Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Jade Biosciences Stock Performance

JBIO stock opened at $9.40 on Thursday. The stock's fifty day moving average is $7.83. Jade Biosciences has a one year low of $6.57 and a one year high of $105.00. The company has a market capitalization of $306.72 million, a PE ratio of -0.31 and a beta of 1.05.

Jade Biosciences (NASDAQ:JBIO - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.43).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Deltec Asset Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $157,000. Geode Capital Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $6,759,000. Police & Firemen s Retirement System of New Jersey bought a new position in Jade Biosciences in the second quarter valued at about $71,000. Intech Investment Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $230,000. Finally, Versant Venture Management LLC bought a new position in Jade Biosciences in the second quarter valued at about $15,243,000.

About Jade Biosciences

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. The company focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.