Analysts Set Crescent Biopharma, Inc. (NASDAQ:CBIO) Price Target at $25.60

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have received an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $25.60.

A number of equities analysts have weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They set a “buy” rating and a $28.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Crescent Biopharma in a research report on Monday, August 25th. They set a “buy” rating and a $26.00 price target on the stock. Lifesci Capital raised shares of Crescent Biopharma to a “strong-buy” rating and set a $22.00 target price on the stock in a report on Wednesday, June 18th. TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research report on Friday, June 20th. Finally, Wedbush started coverage on Crescent Biopharma in a research note on Monday, July 14th. They set an “outperform” rating and a $27.00 price target for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in Crescent Biopharma during the 2nd quarter worth $149,000. Jefferies Financial Group Inc. bought a new position in Crescent Biopharma during the second quarter valued at about $437,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Crescent Biopharma during the second quarter valued at $1,629,000. Braidwell LP purchased a new stake in Crescent Biopharma in the 2nd quarter worth about $4,221,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Crescent Biopharma in the 2nd quarter worth about $4,520,000. 75.19% of the stock is currently owned by institutional investors.

Crescent Biopharma Stock Up 4.0%

CBIO stock opened at $14.24 on Friday. The stock has a 50 day moving average of $13.62. The firm has a market cap of $278.39 million, a PE ratio of -0.41 and a beta of 1.59. Crescent Biopharma has a 52 week low of $10.83 and a 52 week high of $63.00.

Crescent Biopharma Company Profile

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.