Wedbush Initiates Coverage on Crescent Biopharma (NASDAQ:CBIO)

Stock analysts at Wedbush began coverage on shares of Crescent Biopharma (NASDAQ:CBIO) in a report released on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $27.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 101.19% from the stock’s previous close.

A number of other equities research analysts have also issued reports on CBIO. Wall Street Zen raised shares of Crescent Biopharma to a “sell” rating in a report on Saturday. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research report 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 report on Wednesday, June 18th. Finally, Stifel Nicolaus began coverage on Crescent Biopharma in a research report 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, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Crescent Biopharma presently has an average rating of “Buy” and a consensus price target of $25.67.

Crescent Biopharma Stock Up 3.5%

Crescent Biopharma stock opened at $13.42 on Monday. Crescent Biopharma has a 12-month low of $11.06 and a 12-month high of $63.00. The company has a market capitalization of $262.36 million, a P/E ratio of -0.29 and a beta of 1.52.

About Crescent Biopharma

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.