Wedbush Issues Positive Forecast for Jade Biosciences (NASDAQ:JBIO) Stock Price

Jade Biosciences (NASDAQ:JBIO) had its price target lifted by equities research analysts at Wedbush from $17.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 144.57% from the stock’s current price.

A number of other brokerages have also recently commented on JBIO. Wall Street Zen upgraded shares of Jade Biosciences to a “hold” rating in a research note on Saturday, June 14th. Guggenheim upgraded shares of Jade Biosciences from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Monday, June 16th. Finally, Jefferies Financial Group initiated coverage on shares of Jade Biosciences in a research note on Monday, July 14th. They set a “buy” rating and a $16.00 price target for the company.

Jade Biosciences Trading Up 8.7%

JBIO opened at $7.36 on Thursday. The company has a market capitalization of $6.18 million, a PE ratio of -0.24 and a beta of 1.03. Jade Biosciences has a 1 year low of $6.57 and a 1 year high of $105.00. The company’s 50 day moving average price is $8.68.

Jade Biosciences (NASDAQ:JBIO) last announced its quarterly earnings results 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 institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $31,000. BNP Paribas Financial Markets bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $32,000. Ameritas Investment Partners Inc. bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $33,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Jade Biosciences in the second quarter valued at approximately $71,000.

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.