JPMorgan analyst Eric Joseph downgraded C4 Therapeutics to Underweight from Neutral with a price target of $5, down from $15, post the Q4 results. The analyst says that while the company’s timelines continue on track toward clinical updates for CFT7455 and CFT8634 in the second half of 2023, the firm remains "somewhat skeptical" of the value accretive potential of these events. It sees the shares remaining pressured and "becoming further saddled by a rising cash overhang at the time of data."
Published first on TheFly
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