Stephens Upgrades C4 Therapeutics (NASDAQ:CCCC) to "Overweight"

Key Points

• Stephens has upgraded C4 Therapeutics' stock rating from "equal weight" to "overweight", with a price target of $6.00, indicating a potential upside of 125.56% from its current price.
• Other analysts have mixed views, with Zacks Research downgrading the stock to "hold" and Wall Street Zen to "sell," while Guggenheim maintains a "buy" rating with a target price of $8.00.
• C4 Therapeutics reported a quarterly earnings beat with revenues of $6.46 million, exceeding analyst expectations of $5.24 million, despite a negative earnings per share of ($0.37).

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) was upgraded by equities research analysts at Stephens from an "equal weight" rating to an "overweight" rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a $6.00 price target on the stock. Stephens' price target suggests a potential upside of 125.56% from the stock's current price.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of C4 Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen lowered C4 Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Guggenheim began coverage on C4 Therapeutics in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.67.

C4 Therapeutics Price Performance

CCCC opened at $2.66 on Monday. The company's 50 day simple moving average is $2.37 and its two-hundred day simple moving average is $1.88. C4 Therapeutics has a 1-year low of $1.09 and a 1-year high of $7.22. The firm has a market capitalization of $189.31 million, a price-to-earnings ratio of -1.68 and a beta of 2.98.

C4 Therapeutics (NASDAQ:CCCC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.01. The firm had revenue of $6.46 million for the quarter, compared to analyst estimates of $5.24 million. C4 Therapeutics had a negative net margin of 325.88% and a negative return on equity of 53.91%. On average, equities analysts anticipate that C4 Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On C4 Therapeutics

Hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of C4 Therapeutics during the second quarter worth about $31,000. Savant Capital LLC acquired a new stake in shares of C4 Therapeutics during the second quarter worth about $38,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of C4 Therapeutics during the second quarter worth about $40,000. Crestwood Advisors Group LLC acquired a new stake in shares of C4 Therapeutics during the second quarter worth about $41,000. Finally, Brookstone Capital Management acquired a new stake in C4 Therapeutics in the second quarter valued at about $42,000. Institutional investors and hedge funds own 78.81% of the company's stock.

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.

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