Jade Biosciences price target raised to $40 from $19 at Stifel

Stifel analyst Alex Thompson raised the firm’s price target on Jade Biosciences (JBIO) to $40 from $19 and keeps a Buy rating on the shares following the Q4 report. The firm believes the immunoglobulin A nephropathy market continues to evolve across approved modalities with evidence of broader expansion. Stifel remains “bullish” on the IgAN market growth prospects after the Voyxact approval last fall with a price of $390,000 per year. The analyst likes the setup for Jade’s JADE101 as a potentially best-in-class anti-APRIL.