C4 Therapeutics (NASDAQ:CCCC) Issues Quarterly Earnings Results

C4 Therapeutics (NASDAQ:CCCC) posted its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05), Zacks reports. C4 Therapeutics had a negative return on equity of 42.45% and a negative net margin of 313.35%. The firm had revenue of $5.18 million for the quarter, compared to the consensus estimate of $4.43 million.

C4 Therapeutics Trading Up 4.2 %

CCCC stock opened at $2.71 on Friday. The stock has a market capitalization of $191.30 million, a P/E ratio of -1.59 and a beta of 2.95. C4 Therapeutics has a 12 month low of $2.47 and a 12 month high of $11.88. The firm has a 50-day moving average price of $3.52 and a 200-day moving average price of $4.80.

Analyst Ratings Changes

Several equities analysts have commented on CCCC shares. Stephens started coverage on shares of C4 Therapeutics in a report on Monday, November 18th. They issued an “equal weight” rating and a $4.00 price objective on the stock. Wells Fargo & Company raised shares of C4 Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $12.00 in a research report on Thursday, December 19th. Finally, UBS Group raised shares of C4 Therapeutics to a “hold” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, C4 Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $12.50.

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.