Street Calls of the Week
Investing.com - Barclays has reiterated its Overweight rating on C4 Therapeutics (NASDAQ:CCCC), maintaining its price target of $8.00 per share. The stock has shown remarkable momentum, surging over 33% in the past week, with analyst targets ranging from $5 to $50 per share.
The research firm’s analyst Etzer Darout reaffirmed the positive outlook for the biotechnology company, which specializes in targeted protein degradation therapeutics.
C4 Therapeutics is developing novel treatments that selectively destroy disease-causing proteins through the body’s natural protein degradation system.
The company’s pipeline includes several degrader programs targeting cancer and other diseases, with multiple candidates in various stages of development.
The maintained Overweight rating suggests Barclays continues to expect C4 Therapeutics to outperform its sector over the next 12 months.
In other recent news, C4 Therapeutics has garnered attention with a series of developments. The company received an upgrade from Stephens analyst Sudan Loganathan, who changed the rating from Equal Weight to Overweight, highlighting improved visibility for C4 Therapeutics in the multiple myeloma treatment sector. This upgrade comes with a price target of $6.00, suggesting significant potential upside. Additionally, Guggenheim initiated coverage on C4 Therapeutics with a Buy rating and set a price target of $8.00, citing the promising potential of the company’s oral drug cemsidomide for treating multiple myeloma. The drug is seen as having considerable market value despite existing competition from larger pharmaceutical firms.
Moreover, C4 Therapeutics announced it will host a webcast to discuss data from its Phase 1 dose escalation trial of cemsidomide in patients with multiple myeloma. The data presentation will be part of the International Myeloma Society Annual Meeting in Toronto, with Dr. Binod Dhakal from the Medical College of Wisconsin delivering an oral presentation on the trial’s updated results. These developments reflect ongoing progress and interest in C4 Therapeutics’ initiatives within the medical community.
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