FY2029 EPS Estimate for C4 Therapeutics Cut by Analyst

Key Points

• Brookline Capital Markets cut its FY2029 EPS estimate for C4 Therapeutics to $5.68 from $5.90; it forecast FY2030 EPS of $21.65.
• Analyst views are mixed: five rate the stock Buy, one Hold and one Sell, for a MarketBeat consensus rating of “Moderate Buy” and an average price target of $8.50.
• C4 Therapeutics reported a quarterly loss of $0.16 per share, narrower than the $0.19 loss analysts expected, while revenue of $8.47 million came in slightly below estimates.

C4 Therapeutics, Inc. (NASDAQ:CCCC - Free Report) - Investment analysts at Brookline Capital Markets cut their FY2029 earnings estimates for shares of C4 Therapeutics in a report issued on Thursday, November 5th. Brookline Capital Markets analyst L. Cann now expects that the company will post earnings per share of $5.68 for the year, down from their prior forecast of $5.90. The consensus estimate for C4 Therapeutics' current full-year earnings is ($0.81) per share. Brookline Capital Markets also issued estimates for C4 Therapeutics' FY2030 earnings at $21.65 EPS.

A number of other equities analysts have also weighed in on CCCC. Weiss Ratings reissued a "sell (d-)" rating on shares of C4 Therapeutics in a research note on Thursday, October 15th. Evercore cut C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, November 2nd. Wall Street Zen downgraded C4 Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. Lake Street Capital initiated coverage on C4 Therapeutics in a report on Wednesday, October 28th. They set a "buy" rating and a $11.00 price target on the stock. Finally, Guggenheim assumed coverage on shares of C4 Therapeutics in a research report on Friday. They set a "buy" rating and a $6.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

C4 Therapeutics Stock Performance

NASDAQ:CCCC opened at $3.10 on Monday. C4 Therapeutics has a one year low of $1.69 and a one year high of $5.17. The stock has a market cap of $381.38 million, a PE ratio of -4.31 and a beta of 3.16. The stock has a 50 day moving average price of $3.22 and a 200 day moving average price of $3.22.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. The business had revenue of $8.47 million for the quarter, compared to analysts' expectations of $8.52 million. C4 Therapeutics had a negative return on equity of 37.71% and a negative net margin of 282.22%.

Institutional Investors Weigh In On C4 Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its position in shares of C4 Therapeutics by 18.9% during the 2nd quarter. Wasatch Advisors LP now owns 3,522,644 shares of the company's stock worth $16,451,000 after purchasing an additional 560,883 shares during the period. Candriam S.C.A. increased its holdings in C4 Therapeutics by 53.6% in the 3rd quarter. Candriam S.C.A. now owns 2,760,346 shares of the company's stock valued at $9,226,000 after purchasing an additional 963,409 shares during the last quarter. Renaissance Technologies LLC increased its holdings in C4 Therapeutics by 53.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,461,815 shares of the company's stock valued at $6,475,000 after purchasing an additional 859,235 shares during the last quarter. Congress Asset Management Co. raised its position in C4 Therapeutics by 25.2% in the third quarter. Congress Asset Management Co. now owns 1,256,692 shares of the company's stock valued at $4,185,000 after purchasing an additional 253,255 shares during the period. Finally, Velan Capital Investment Management LP purchased a new stake in C4 Therapeutics in the second quarter valued at approximately $2,662,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.

About C4 Therapeutics

C4 Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary TORPEDO platform to design targeted protein degraders, which are intended to direct specific proteins to the cell's natural disposal system rather than simply blocking their activity.

C4 Therapeutics has concentrated its research and development efforts primarily on oncology, including programs aimed at genetically defined cancers and difficult-to-treat tumors.

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