Crescent Biopharma (NASDAQ:CBIO) Releases Quarterly Earnings Results, Misses Expectations By $2.24 EPS
Crescent Biopharma (NASDAQ:CBIO) reported quarterly earnings of ($4.93) per share, missing the consensus estimate of ($2.69) by ($2.24). Following the announcement, shares fell 3.4%, opening at $12.00. The company has a market cap of $234.60 million and a consensus rating of "Buy" with an average price target of $25.67. Analysts have mixed ratings, with one sell, two buy, and two strong buy ratings. Crescent Biopharma develops small molecule therapeutics for cancer treatment.
Crescent Biopharma (NASDAQ:CBIO - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($4.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.69) by ($2.24), Zacks reports.
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Crescent Biopharma Stock Down 3.4%
Shares of CBIO stock opened at $12.00 on Friday. The company has a market capitalization of $234.60 million, a price-to-earnings ratio of -0.34 and a beta of 1.51. Crescent Biopharma has a fifty-two week low of $11.06 and a fifty-two week high of $63.00.
Wall Street Analyst Weigh In
CBIO has been the topic of several analyst reports. TD Cowen raised Crescent Biopharma to a "strong-buy" rating in a report on Friday, June 20th. Wedbush initiated coverage on Crescent Biopharma in a research note on Monday, July 14th. They issued an "outperform" rating and a $27.00 price objective on the stock. Wall Street Zen lowered Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday. Lifesci Capital raised Crescent Biopharma to a "strong-buy" rating and set a $22.00 price objective on the stock in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus initiated coverage on Crescent Biopharma in a research note on Wednesday, June 25th. They issued a "buy" rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Crescent Biopharma has a consensus rating of "Buy" and an average price target of $25.67.
Check Out Our Latest Stock Analysis on CBIO
About Crescent Biopharma
(Get Free Report)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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