JPMorgan upgraded C4 Therapeutics to Neutral from Underweight with an unchanged price target of $6. The upgrade follows a deeper look at December’s CFT7455 Phase 1 update and gaining more comfort with the case for differentiation from key IMiD/CELMoD competitors, namely mezigdomide, the analyst tells investors in a research note. The firm is now more positive on the Phase 1 relative safety/tolerability profile of CFT7455 plus dexamethasone given the absent use of prophylactic or rescue G-CSF to manage neutropenia.
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