Crescent Biopharma, Inc. (NASDAQ:CBIO) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Crescent Biopharma, Inc. (NASDAQ:CBIO) has received an average rating of "Buy" from six analysts, with a target price of $25.60 per share.
• Recent analyst activity includes a downgrade to "sell" by Wall Street Zen and upgrades to "strong buy" by Lifesci Capital with a target of $22.00, as well as further buy ratings from Jefferies and other firms.
• Approximately 75.19% of Crescent Biopharma's stock is owned by institutional investors, indicating strong institutional interest in the company.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $25.60.

Several equities analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Crescent Biopharma in a report on Wednesday, June 25th. They issued a "buy" rating and a $28.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $25.00 price objective on shares of Crescent Biopharma in a report on Wednesday, August 27th. Lifesci Capital upgraded shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 price objective on the stock in a report on Wednesday, June 18th. Wedbush assumed coverage on shares of Crescent Biopharma in a report on Monday, July 14th. They issued an "outperform" rating and a $27.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Crescent Biopharma in a report on Monday, August 25th. They issued a "buy" rating and a $26.00 price objective on the stock.

Crescent Biopharma Price Performance

NASDAQ:CBIO remained flat at $12.55 on Friday. 24,373 shares of the company's stock traded hands, compared to its average volume of 47,371. The stock has a market capitalization of $245.35 million, a price-to-earnings ratio of -0.36 and a beta of 1.59. The company's fifty day simple moving average is $13.49. Crescent Biopharma has a 12 month low of $10.83 and a 12 month high of $63.00.

Hedge Funds Weigh In On Crescent Biopharma

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Crescent Biopharma during the 2nd quarter worth about $149,000. Jefferies Financial Group Inc. acquired a new position in Crescent Biopharma during the 2nd quarter worth about $437,000. Adage Capital Partners GP L.L.C. acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $1,629,000. Braidwell LP acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $4,221,000. Finally, Affinity Asset Advisors LLC acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $4,520,000. Institutional investors and hedge funds 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.