HC Wainwright Initiates Coverage on Crescent Biopharma (NASDAQ:CBIO)

Equities research analysts at HC Wainwright started coverage on shares of Crescent Biopharma (NASDAQ:CBIO) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $25.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 92.60% from the company’s current price.

CBIO has been the subject of a number of other research reports. 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 note on Wednesday, June 18th. Wall Street Zen lowered shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Wedbush assumed coverage on shares of Crescent Biopharma in a research note on Monday, July 14th. They set an “outperform” rating and a $27.00 price target for the company. TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research note on Friday, June 20th. Finally, Stifel Nicolaus assumed coverage on shares of Crescent Biopharma in a research note on Wednesday, June 25th. They set a “buy” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $25.50.

Crescent Biopharma Stock Up 0.6%

NASDAQ:CBIO opened at $12.98 on Monday. The company has a fifty day moving average of $13.88. The company has a market cap of $253.76 million, a price-to-earnings ratio of -0.37 and a beta of 1.51. Crescent Biopharma has a twelve month low of $10.83 and a twelve month high of $63.00.

Crescent Biopharma (NASDAQ:CBIO) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported ($4.93) earnings per share for the quarter, missing the consensus estimate of ($2.69) by ($2.24). Equities research analysts anticipate that Crescent Biopharma will post -0.16 EPS for the current fiscal year.

Institutional Trading of Crescent Biopharma

A hedge fund recently bought a new stake in Crescent Biopharma stock. Jefferies Financial Group Inc. bought a new position in Crescent Biopharma, Inc. (NASDAQ:CBIO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,096 shares of the biopharmaceutical company’s stock, valued at approximately $437,000. Jefferies Financial Group Inc. owned approximately 0.14% of Crescent Biopharma at the end of the most recent reporting period. Institutional investors own 75.19% of the company’s stock.

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.