Jade Biosciences initiated with a Buy at BTIG

BTIG initiated coverage of Jade Biosciences (JBIO) with a Buy rating and $28 price target APRIL inhibitors are poised to shape the next phase of IgA nephropathy treatment, with Jade’s JADE101 offering potential advantages over existing antibodies due to its differentiated PK/PD profile, the analyst tells investors in a research note. Given IgAN’s $10B+ U.S. market and limited disease-modifying options, multiple APRIL-targeting therapies could achieve commercial success, while Jade’s anti-BAFF-R antibody, JADE201, appears well designed for broad application across B-cell-mediated autoimmune diseases, the firm says.