C4 Therapeutics, Inc. (NASDAQ:CCCC) is one of the 10 Best High-Risk Penny Stocks to Buy Right Now. 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. 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.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
