C4 Therapeutics (CCCC) PT Lowered to $53 at BMO Capital, Keeps 'Outperform'

June 21, 2021 1:07 PM EDT
Get Alerts CCCC Hot Sheet
Price: $42.51 -1.41%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 25 | New: 45
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BMO Capital analyst Matthew Luchini lowered the price target on C4 Therapeutics (NASDAQ: CCCC) to $53.00 (from $55.00) while maintaining an Outperform rating.

The analyst commented, "C4 provided additional insight into preclinical activity of CFT7455 in Non-Hodgkins Lymphomas (NHLs) this past weekend at ICML. Although early, we believe data continues to support a potential best-in-class degrader given promising activity across multiple NHL subtypes, including Pomalyst insensitive. While IMiDs are less of a mainstay in NHL than multiple myeloma, we believe these data support development in both settings, with first P1 patient dosed earlier this month. We update our model for recent financing with increased dilution lowering our target to $53. Reiterate OP."

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