C4 Therapeutics (CCCC) Stock: $15 Price Target From BofA

By Amit Chowdhry ● Apr 11, 2022
  • The shares of C4 Therapeutics Inc (NASDAQ: CCCC) have received a $15 price target from BofA. These are the details.

The shares of C4 Therapeutics Inc (NASDAQ: CCCC) have received a $15 price target from BofA. And BofA analyst Chi Fong adjusted the rating of C4 Therapeutics to a “Neutral” rating from a “Buy” rating.

Fong had adjusted the rating as the initial clinical data complicate the company’s path to de-risk the lead asset, and equally important, proving to Wall Street that it can translate preclinical data into promising therapeutics with its degrader platform. And Fong told investors in a research note on Friday that he now believes C4’s path to identifying an efficacious recommended Phase 2 dose is riskier and adds more uncertainty as to whether ‘7455 can differentiate versus the closest competitor molecule.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.