Crescent Biopharma (NASDAQ:CBIO) Coverage Initiated at Jefferies Financial Group

Key Points

• Jefferies Financial Group has initiated coverage on Crescent Biopharma (NASDAQ:CBIO), assigning a "buy" rating and a price target of $26.00, suggesting a potential upside of 72.64% from its previous close.
• Other analysts have mixed ratings for Crescent Biopharma, with reports ranging from a "sell" rating by Wall Street Zen to "strong-buy" ratings from TD Cowen and Lifesci Capital, leading to a consensus rating of "Buy" with an average target of $25.60.
• The stock has shown volatility, opening at $15.06 on Monday, with a 12-month low of $10.83 and a high of $63.00, while institutional investors currently hold approximately 75.19% of the shares.

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Crescent Biopharma (NASDAQ:CBIO - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $26.00 price target on the biopharmaceutical company's stock. Jefferies Financial Group's target price points to a potential upside of 72.64% from the company's previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a research note on Friday, June 20th. HC Wainwright initiated coverage on Crescent Biopharma in a research note on Monday, August 11th. They set a "buy" rating and a $25.00 price target on the stock. Lifesci Capital upgraded Crescent Biopharma to a "strong-buy" rating and set a $22.00 price target on the stock in a research note on Wednesday, June 18th. Finally, Wedbush initiated coverage on Crescent Biopharma in a research note on Monday, July 14th. They set an "outperform" rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $25.60.

Crescent Biopharma Stock Up 4.6%

Shares of CBIO opened at $15.06 on Monday. Crescent Biopharma has a 12-month low of $10.83 and a 12-month high of $63.00. The company has a market capitalization of $294.42 million, a price-to-earnings ratio of -0.43 and a beta of 1.51. The firm's 50-day moving average price is $13.90.

Institutional Investors Weigh In On Crescent Biopharma

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

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.

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