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

C4 Therapeutics (NASDAQ:CCCC) issued its quarterly earnings data 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%. The business had revenue of $5.18 million during the quarter, compared to the consensus estimate of $4.43 million.

C4 Therapeutics Price Performance

Shares of CCCC stock opened at $2.60 on Friday. The company has a market capitalization of $183.53 million, a price-to-earnings ratio of -1.53 and a beta of 2.95. The company’s fifty day moving average price is $3.54 and its 200-day moving average price is $4.83. C4 Therapeutics has a one year low of $2.59 and a one year high of $11.88.

Analyst Ratings Changes

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