HC Wainwright Reiterates Buy Rating for Crescent Biopharma (NASDAQ:CBIO)

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.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 72.77% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Wedbush began coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They set an "outperform" rating and a $27.00 price target for the company. Lifesci Capital upgraded shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 price target for the company in a research report on Wednesday, June 18th. Stifel Nicolaus started coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They set a "buy" rating and a $28.00 price target for the company. Jefferies Financial Group started coverage on Crescent Biopharma in a research report on Monday. They set a "buy" rating and a $26.00 price objective for the company. Finally, TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a research report on Friday, June 20th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $25.60.

Crescent Biopharma Price Performance

Shares of CBIO opened at $14.47 on Wednesday. Crescent Biopharma has a twelve month low of $10.83 and a twelve month high of $63.00. The firm has a 50 day simple moving average of $13.89. The stock has a market cap of $282.89 million, a price-to-earnings ratio of -0.41 and a beta of 1.51.

Institutional Trading of Crescent Biopharma

Several institutional investors have recently made changes to their positions in CBIO. BVF Inc. IL purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at $22,400,000. Perceptive Advisors LLC purchased a new stake in Crescent Biopharma during the 2nd quarter worth $7,322,000. Commodore Capital LP purchased a new stake in Crescent Biopharma during the 2nd quarter worth $7,322,000. Frazier Life Sciences Management L.P. purchased a new stake in Crescent Biopharma during the 2nd quarter worth $7,322,000. Finally, Soleus Capital Management L.P. purchased a new stake in Crescent Biopharma during the 2nd quarter worth $6,456,000. 75.19% of the stock is owned by hedge funds and other 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.

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