HC Wainwright Begins Coverage on Crescent Biopharma (NASDAQ:CBIO)

Key Points

• HC Wainwright has initiated coverage on Crescent Biopharma (NASDAQ: CBIO) with a "buy" rating and a target price of $25.00, indicating a potential upside of 94.55% from its previous close.
• The company recently reported a loss of ($4.93) earnings per share for the last quarter, missing analysts' estimates by ($2.24).
• Crescent Biopharma's stock has seen significant volatility, with a recent opening price of $12.85 and a twelve-month high of $63.00.

Equities research analysts at HC Wainwright began coverage on shares of Crescent Biopharma (NASDAQ:CBIO - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set a "buy" rating and a $25.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price suggests a potential upside of 94.55% from the company's previous close.

A number of other research analysts also recently weighed in on the company. TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a research note on Friday, June 20th. 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. Wedbush started 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, August 2nd. Finally, Stifel Nicolaus started 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 equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $25.50.

Crescent Biopharma Stock Up 16.8%

CBIO stock opened at $12.85 on Monday. The company has a market capitalization of $251.22 million, a price-to-earnings ratio of -0.37 and a beta of 1.51. Crescent Biopharma has a twelve month low of $10.83 and a twelve month high of $63.00.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported ($4.93) earnings per share for the quarter, missing analysts' consensus estimates of ($2.69) by ($2.24). On average, research analysts predict that Crescent Biopharma will post -0.16 earnings per share for the current fiscal year.

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.

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