Wedbush Begins Coverage on Crescent Biopharma (NASDAQ:CBIO)

Stock analysts at Wedbush began coverage on shares of Crescent Biopharma (NASDAQ:CBIO) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $27.00 price target on the biopharmaceutical company’s stock. Wedbush’s target price suggests a potential upside of 129.98% from the company’s previous close.

A number of other research analysts have also commented on the stock. Lifesci Capital upgraded shares of Crescent Biopharma to a “strong-buy” rating and set a $22.00 price target for the company in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Crescent Biopharma to a “sell” rating in a research report on Saturday. Stifel Nicolaus initiated coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They issued a “buy” rating and a $28.00 target price for the company. Finally, TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.67.

Crescent Biopharma Trading Down 8.3%

NASDAQ:CBIO opened at $11.74 on Monday. The company has a market capitalization of $229.52 million, a P/E ratio of -0.26 and a beta of 1.52. Crescent Biopharma has a 12 month low of $11.06 and a 12 month high of $63.00.

About Crescent Biopharma

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.