Analysts Set C4 Therapeutics, Inc. (NASDAQ:CCCC) Price Target at $10.67

Shares of C4 Therapeutics, Inc. (NASDAQ:CCCC) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.67.

A number of equities analysts have recently commented on CCCC shares. Wells Fargo & Company upgraded C4 Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $12.00 in a research note on Thursday, December 19th. Stephens started coverage on C4 Therapeutics in a research note on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective on the stock.

Institutional Investors Weigh In On C4 Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in C4 Therapeutics during the second quarter worth about $45,000. B. Riley Wealth Advisors Inc. acquired a new stake in C4 Therapeutics during the second quarter worth about $51,000. Point72 DIFC Ltd acquired a new stake in C4 Therapeutics during the third quarter worth about $51,000. Cynosure Group LLC acquired a new stake in C4 Therapeutics during the third quarter worth about $57,000. Finally, Aigen Investment Management LP acquired a new stake in C4 Therapeutics during the third quarter worth about $82,000. 78.81% of the stock is owned by institutional investors and hedge funds.

C4 Therapeutics Price Performance

NASDAQ CCCC opened at $3.86 on Tuesday. C4 Therapeutics has a fifty-two week low of $3.38 and a fifty-two week high of $11.88. The stock’s 50-day moving average is $4.23 and its two-hundred day moving average is $5.35. The firm has a market cap of $272.48 million, a P/E ratio of -2.27 and a beta of 2.96.

C4 Therapeutics (NASDAQ:CCCC) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The business had revenue of $15.36 million for the quarter, compared to analyst estimates of $5.95 million. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. On average, equities analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

C4 Therapeutics Company Profile

C4 Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma, currently under Phase 1/2 clinical trials.