Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Average Recommendation of “Buy” from Analysts

Crescent Biopharma, Inc. (NASDAQ:CBIO) has been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $25.60.

A number of equities analysts recently issued reports on the company. Jefferies Financial Group started coverage on Crescent Biopharma in a report on Monday, August 25th. They set a “buy” rating and a $26.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Crescent Biopharma in a research note on Wednesday, August 27th. Weiss Ratings began coverage on shares of Crescent Biopharma in a report on Wednesday, November 12th. They issued a “sell (e-)” rating on the stock. Finally, Wall Street Zen raised shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Sunday.

Institutional Trading of Crescent Biopharma

Large investors have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in Crescent Biopharma during the 2nd quarter worth $437,000. Affinity Asset Advisors LLC bought a new position in shares of Crescent Biopharma during the 2nd quarter worth $4,520,000. Commodore Capital LP purchased a new position in shares of Crescent Biopharma during the second quarter valued at $7,322,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $1,629,000. Finally, Bank of America Corp DE bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $149,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Price Performance

Crescent Biopharma stock opened at $13.00 on Wednesday. The stock has a market cap of $180.61 million, a price-to-earnings ratio of -0.37 and a beta of 1.50. Crescent Biopharma has a 1-year low of $9.81 and a 1-year high of $42.20. The stock has a 50-day moving average price of $12.43.

Crescent Biopharma (NASDAQ:CBIO) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.26). On average, equities analysts predict that Crescent Biopharma will post -0.16 EPS for the current year.

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.