C4 Therapeutics initiated with a Buy at Guggenheim

Guggenheim initiated coverage of C4 Therapeutics (CCCC) with a Buy rating and $8 price target The firm believes investors are overlooking the clinical profile differentiation established by C4 and the market “whitespace” available in the myeloma treatment paradigm. The company’s cemsidomide could have a wider therapeutic index and active dose range relative to Bristol-Myer’s (BMY) mezigdomide, with better activity in a more relevant late-line myeloma population, the analyst tells investors in a research note.