Crescent Biopharma (NASDAQ:CBIO) Earns "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for Crescent Biopharma (NASDAQ:CBIO) with a price target of $25.00, indicating a potential upside of 72.77% from its previous close.
• In addition to HC Wainwright, several other firms have also issued positive ratings, with Wedbush setting a price target of $27.00 and Lifesci Capital upgrading it to a "strong-buy" rating with a $22.00 target.
• Crescent Biopharma's stock opened at $14.47, with a 12-month range between $10.83 and $63.00, and institutional investors own 75.19% of the company.

HC Wainwright reiterated their buy rating on shares of Crescent Biopharma (NASDAQ:CBIO - Free Report) in a report released on Wednesday,Benzinga reports. The firm currently has a $25.00 price objective on the biopharmaceutical company's stock.

A number of other analysts have also recently commented on CBIO. Wedbush began coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They issued an "outperform" rating and a $27.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Crescent Biopharma in a research note on Wednesday, June 25th. They issued a "buy" rating and a $28.00 target price for the company. TD Cowen raised shares of Crescent Biopharma to a "strong-buy" rating in a research note on Friday, June 20th. Jefferies Financial Group began coverage on Crescent Biopharma in a report on Monday, August 25th. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Wall Street Zen lowered Crescent Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $25.60.

Crescent Biopharma Trading Up 1.8%

Shares of CBIO traded up $0.25 during trading hours on Wednesday, reaching $14.40. The stock had a trading volume of 49,639 shares, compared to its average volume of 98,279. Crescent Biopharma has a 52 week low of $10.83 and a 52 week high of $63.00. The company's 50-day moving average is $13.86. The company has a market cap of $281.52 million, a P/E ratio of -0.41 and a beta of 1.59.

Institutional Trading of Crescent Biopharma

A number of institutional investors have recently modified their holdings of CBIO. BVF Inc. IL acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth about $22,400,000. Perceptive Advisors LLC acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth about $7,322,000. Commodore Capital LP acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth about $7,322,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth about $7,322,000. Finally, Soleus Capital Management L.P. acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth about $6,456,000. 75.19% of the stock is currently owned by institutional investors.

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.