5 Best High Risk Penny Stocks to Buy Right Now

2. C4 Therapeutics Inc (NASDAQ:CCCC)

According to CNN’s compilation of price targets, all 8 analysts covering C4 Therapeutics Inc. (NASDAQ:CCCC) are bullish. The median price target of $7 suggests significant upside, something that was reiterated by Guggenheim and Barclays analysts on Feb 26th and 27th, respectively. While Guggenheim analyst Bradley Canino already had a $7 price target on the stock, Barclays’ Etzer Darout raised his price target from $5 to $7.

These ratings came just after the company’s Q4 earnings on Feb 26, when the firm reported a revenue of $11.016 million vs estimates of $4.48 million. Since the stock had already run up considerably leading up to the earnings, the rally fizzled out a few days after the earnings despite the stellar result. The firm isn’t yet profitable, but a cash position of $297.1 million compared to $199.8 million in the previous quarter suggests it is doing well enough to continue funding its research initiatives to reach the next value-inflection milestone.

C4 Therapeutics Inc (NASDAQ:CCCC) is a biopharma company that develops products that help degrade disease-causing proteins. It is also working on developing oncology products such as the CFT8919 for lung cancer. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.