Jefferies Starts Jade Biosciences (JBIO) at Buy

Jefferies analyst Akash Tewari initiates coverage on Jade Biosciences (NASDAQ: JBIO) with a Buy rating and a price target of $16.00.

The analyst commented: "We like JBIO’s long-acting anti-APRIL (JADE101) in IgAN: 1) our PK work suggests '101 can achieve Q8/12W dosing, 2) we think efficacy will be as good as povetacicept w/ pot'l upside on % clinical remission, 3) we expect tolerable safety profile w/o increased serious infections, 4) we see oppty for disease modifying tx w/ longer dosing interval in IgAN. We model $915M risk-adj. PS for '101 (POS 30%). Co also has $255M cash/cash eq. w/ runway to '27. "

For an analyst ratings summary and ratings history on Jade Biosciences click here. For more ratings news on Jade Biosciences click here.

Shares of Jade Biosciences closed at $9.82 yesterday.

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