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

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.

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

Crescent Biopharma Trading Down 5.2%

Shares of CBIO stock traded down $0.60 during mid-day trading on Wednesday, reaching $11.00. The stock had a trading volume of 34,921 shares, compared to its average volume of 39,820. Crescent Biopharma has a one year low of $10.90 and a one year high of $63.00. The company has a market capitalization of $215.05 million, a P/E ratio of -0.31 and a beta of 1.51.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Lifesci Capital upgraded Crescent Biopharma to a "strong-buy" rating and set a $22.00 target price for the company in a research note on Wednesday, June 18th. TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a research note on Friday, June 20th. Wedbush assumed coverage on Crescent Biopharma in a research note on Monday, July 14th. They set an "outperform" rating and a $27.00 target price for the company. Wall Street Zen downgraded Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Stifel Nicolaus initiated coverage on Crescent Biopharma in a research note on Wednesday, June 25th. They set a "buy" rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Crescent Biopharma has an average rating of "Buy" and a consensus target price of $25.67.

Crescent Biopharma Company Profile

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.