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

Key Points

• Nine analysts give Crescent Biopharma an average recommendation of Buy (1 sell, 5 buy, 3 strong buy) with a mean 12‑month price target of $28.00; Guggenheim and Piper Sandler initiated coverage with $35 targets.
• The company reported a steep quarterly loss of ($4.01) per share versus estimates of ($2.22) and generated $10.84 million in revenue, while analysts forecast about ($0.16) EPS for the current year.
• Shares trade near $21.28 with a 52‑week range of $8.72–$28.77, a market cap of roughly $295.6 million, and institutional investors owning about 75.19% of the stock.

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) have earned an average recommendation of "Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

CBIO has been the topic of several research reports. Guggenheim initiated coverage on shares of Crescent Biopharma in a research report on Wednesday, January 21st. They issued a "buy" rating and a $35.00 price objective on the stock. Piper Sandler initiated coverage on Crescent Biopharma in a report on Wednesday, January 28th. They set an "overweight" rating and a $35.00 target price for the company. HC Wainwright dropped their price target on Crescent Biopharma from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Wall Street Zen upgraded Crescent Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Stifel Nicolaus set a $29.00 price objective on Crescent Biopharma in a research report on Thursday, February 26th.

Crescent Biopharma Stock Performance

Shares of CBIO stock opened at $21.28 on Friday. Crescent Biopharma has a 52 week low of $8.72 and a 52 week high of $28.77. The company's 50 day moving average price is $13.55 and its two-hundred day moving average price is $12.78. The company has a market capitalization of $295.58 million, a P/E ratio of -1.50 and a beta of 1.04.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share for the quarter, missing the consensus estimate of ($2.22) by ($1.79). The firm had revenue of $10.84 million for the quarter. Analysts forecast that Crescent Biopharma will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Crescent Biopharma by 40.8% in the 4th quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company's stock valued at $311,000 after purchasing an additional 7,600 shares during the period. Bank of America Corp DE acquired a new stake in Crescent Biopharma in the 2nd quarter valued at about $149,000. OMERS ADMINISTRATION Corp bought a new position in Crescent Biopharma during the fourth quarter worth about $138,000. HRT Financial LP bought a new position in Crescent Biopharma during the fourth quarter worth about $155,000. Finally, Quadrature Capital Ltd acquired a new position in Crescent Biopharma during the fourth quarter worth approximately $157,000. Institutional investors own 75.19% of the company's stock.

About Crescent Biopharma

Crescent Biopharma, Inc NASDAQ: CBIO is a clinical‐stage immuno‐oncology company focused on the discovery, development and commercialization of novel therapies for patients with solid tumors. The company's research strategy centers on combination approaches that enhance anti‐tumor immune responses by simultaneously targeting multiple pathways implicated in immune evasion and tumor growth.

The company's lead candidate, CPB-201, is a bifunctional fusion protein designed to block programmed death-ligand 1 (PD-L1) while neutralizing transforming growth factor-beta (TGF-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.

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