H.C. Wainwright Initiates Jade Biosciences (JBIO) at Buy With $25 PT as JADE101 Eyes $926M Peak Revenue

Group 1 - Jade Biosciences Inc. (NASDAQ:JBIO) is recognized as a growth stock with a Buy rating and a price target of $25, indicating its strategic positioning in the autoimmune market [1][3] - The company’s lead candidate, JADE101, is projected to generate $926 million in risk-adjusted revenue by 2037, specifically targeting immunoglobulin A nephropathy [1][3] - In Q3 2025, Jade Biosciences reported significant progress with JADE101 and introduced a new development program, JADE201, supported by a $135 million private placement that extends its cash runway into H1 2028 [2] Group 2 - JADE101 is a selective anti-APRIL monoclonal antibody that has shown promising preclinical data, demonstrating good tolerance in non-human primates and establishing a no-observed-adverse-effect level [3] - The drug has exhibited reversible reductions in serum immunoglobulins without causing broad immune suppression, supporting its advancement into Phase 1 trials [3] - Jade Biosciences focuses on developing therapies for inflammation and immunology indications in patients with autoimmune diseases [4]