C4 Therapeutics (NASDAQ:CCCC) Posts Earnings Results, Misses Estimates By $0.05 EPS

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

C4 Therapeutics Stock Performance

Shares of NASDAQ CCCC opened at $2.71 on Friday. C4 Therapeutics has a 52-week low of $2.47 and a 52-week 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. The stock has a market cap of $191.30 million, a P/E ratio of -1.59 and a beta of 2.95.

Analyst Upgrades and Downgrades

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

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.