C4 Therapeutics' (CCCC) Overweight Rating Reiterated at Stephens

Key Points

• Analysts at Stephens have reiterated an "overweight" rating for C4 Therapeutics (NASDAQ:CCCC) with a price target of $6.00, suggesting a potential upside of 89.87% from the previous close.
• Other analysts have mixed opinions, with Wall Street Zen downgrading the stock to a "sell" and Barclays maintaining an "overweight" rating with a higher price target of $10.00.
• C4 Therapeutics reported quarterly earnings exceeding expectations, with a revenue of $6.46 million and a loss per share of ($0.37), although it faces a negative net margin of 325.88%.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Stephens in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $6.00 price target on the stock. Stephens' price objective would suggest a potential upside of 89.87% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of C4 Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Zacks Research cut shares of C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Barclays restated an "overweight" rating and issued a $10.00 price target on shares of C4 Therapeutics in a report on Monday. Finally, Guggenheim assumed coverage on shares of C4 Therapeutics in a report on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

C4 Therapeutics Stock Down 4.8%

CCCC stock opened at $3.16 on Monday. The firm's fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $1.91. The stock has a market capitalization of $224.90 million, a price-to-earnings ratio of -2.00 and a beta of 2.98. C4 Therapeutics has a twelve month low of $1.09 and a twelve month high of $7.14.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.01. The firm had revenue of $6.46 million for the quarter, compared to analysts' expectations of $5.24 million. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. As a group, equities research analysts expect that C4 Therapeutics will post -1.52 EPS for the current year.

Hedge Funds Weigh In On C4 Therapeutics

Several hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP increased its holdings in shares of C4 Therapeutics by 10.4% during the second quarter. Wasatch Advisors LP now owns 7,424,662 shares of the company's stock valued at $10,617,000 after acquiring an additional 700,253 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of C4 Therapeutics by 0.9% during the second quarter. Bank of America Corp DE now owns 2,008,004 shares of the company's stock valued at $2,871,000 after acquiring an additional 17,180 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of C4 Therapeutics during the first quarter valued at about $1,116,000. Goldman Sachs Group Inc. increased its holdings in shares of C4 Therapeutics by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 622,720 shares of the company's stock valued at $996,000 after acquiring an additional 49,065 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of C4 Therapeutics by 1.1% during the fourth quarter. Northern Trust Corp now owns 495,043 shares of the company's stock valued at $1,782,000 after acquiring an additional 5,223 shares in the last quarter. Institutional investors and hedge funds own 78.81% of the company's stock.

About C4 Therapeutics

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.

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