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

C4 Therapeutics (NASDAQ:CCCC) released its earnings results on Thursday. The company reported ($0.49) earnings per share 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%.

C4 Therapeutics Stock Up 0.8 %

NASDAQ:CCCC traded up $0.02 during midday trading on Thursday, hitting $2.67. The company had a trading volume of 1,077,607 shares, compared to its average volume of 1,826,385. C4 Therapeutics has a 52-week low of $2.60 and a 52-week high of $11.88. The stock’s fifty day moving average price is $3.57 and its 200-day moving average price is $4.84. The company has a market capitalization of $188.47 million, a PE ratio of -1.58 and a beta of 2.95.

Analysts Set New Price Targets

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