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Crescent Biopharma

CBIO · NASDAQ

$13.07+$0.71 (+5.74%)TodayMarket closed ·
Prev close $12.36

CBIO analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy3
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 7 analysts

Average $31.21 (+138.8% upside)

Low
$27.27
Now
$13.07
High
$36.75

Upgrades and downgrades

The latest rating actions, newest first

CBIO analyst upgrades, downgrades and rating actions
FirmDateActionRating
HC Wainwright & Co.Oct 19, 2026MaintainsBuy
HC Wainwright & Co.Oct 6, 2026UpgradeNeutral → Buy
WedbushSep 14, 2026MaintainsOutperform
WedbushAug 27, 2026MaintainsOutperform
HC Wainwright & Co.Jun 1, 2026DowngradeBuy → Neutral
HC Wainwright & Co.Mar 2, 2026MaintainsBuy
GuggenheimJan 21, 2026InitiatesBuy

The case for and against

Updated Oct 17, 2026

Bull case

Crescent Biopharma is attractive because its ~$200M enterprise value appears to understate a pipeline with multiple near-term clinical readouts and externally validated biology, especially CR-001, which is designed to replicate ivonescimab’s PD-1/VEGF bispecific mechanism that has already shown meaningful OS and PFS benefit versus pembrolizumab in Phase 3. The company’s upside is further supported by two ADC shots on goal, with CR-003 differentiated from Pfizer’s failed ITGB6 program and backed by ~3.1-fold higher rat exposure, while CR-002 has preclinical tumor-control advantages using an Enhertu-like DXd format and the same 2027 data window. With initial CR-003 and CR-002 clinical data in 2027 and a model that assigns $20/share to the ADCs and $16/share to CR-001, the risk-reward remains compelling if early efficacy and tolerability hold.

Bear case

Crescent Biopharma is fundamentally a high-risk, early-stage oncology story whose value rests on unproven clinical execution across three programs, with CR-001 still awaiting human PK and repeat-dose safety and ASCEND combination data, while CR-002 and CR-003 each face narrow readouts that may not fully establish commercial utility. CR-003 is especially vulnerable because its trial excludes prior TOP1 therapy, limiting what an initial readout can say about sequencing versus competing ADCs, and CR-002’s valuation is tied to HNSCC-specific activity despite small, confounded comparator data showing 57.1% confirmed ORR but notable grade ≥3 treatment-related events in 28% of patients. Using an 11% discount rate and 3% terminal growth rate, the model embeds only 30%/20% probabilities of approval for CR-001 and 20% for each ADC, underscoring meaningful development, competitive, and dilution risk.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.