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Crescent Biopharma (NASDAQ:CBIO) Releases Quarterly Earnings Results, Misses Expectations By $2.24 EPS

Crescent Biopharma logo with Medical background

Key Points

  • Crescent Biopharma reported a quarterly loss of ($4.93) earnings per share, significantly missing the consensus estimate of ($2.69) by ($2.24).
  • Following the earnings report, CBIO stock fell 3.4% and is trading at $12.00, with a market capitalization of $234.60 million.
  • Analyst ratings for Crescent Biopharma vary, with one sell rating, two buy ratings, and two strong buy ratings, resulting in a consensus rating of "Buy" with an average price target of $25.67.
  • Five stocks we like better than Crescent Biopharma.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($4.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.69) by ($2.24), Zacks reports.

Crescent Biopharma Stock Down 3.4%

Shares of CBIO stock opened at $12.00 on Friday. The company has a market capitalization of $234.60 million, a price-to-earnings ratio of -0.34 and a beta of 1.51. Crescent Biopharma has a fifty-two week low of $11.06 and a fifty-two week high of $63.00.

Wall Street Analyst Weigh In

CBIO has been the topic of several analyst reports. TD Cowen raised Crescent Biopharma to a "strong-buy" rating in a report on Friday, June 20th. Wedbush initiated coverage on Crescent Biopharma in a research note on Monday, July 14th. They issued an "outperform" rating and a $27.00 price objective on the stock. Wall Street Zen lowered Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday. Lifesci Capital raised Crescent Biopharma to a "strong-buy" rating and set a $22.00 price objective on the stock in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus initiated coverage on Crescent Biopharma in a research note on Wednesday, June 25th. They issued a "buy" rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Crescent Biopharma has a consensus rating of "Buy" and an average price target of $25.67.

Check Out Our Latest Stock Analysis on CBIO

About Crescent Biopharma

(Get Free Report)

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.

See Also

Earnings History for Crescent Biopharma (NASDAQ:CBIO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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