BMO Capital Starts C4 Therapeutics (CCCC) at Outperform
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BMO Capital analyst Matthew Luchini initiates coverage on C4 Therapeutics (NASDAQ: CCCC) with a Outperform rating and a price target of $55.00.
The analyst comments "C4 is a clinical-stage biotech company developing protein degraders for the treatment of cancer and neurological disorders. We believe early disease model data from lead program CFT7455 suggests a better clinical profile than the blockbuster IMiDs in multiple myeloma and lymphoma. We believe C4 has significant platform potential given ability to develop both monofunctional and bifunctional degraders. A focus on validated targets helps de-risk development, while three collaborations (Roche, Biogen, Calico) provide external validation and non-dilutive financing."
Shares of C4 Therapeutics closed at $32.90 yesterday.
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