Shares of C4 Therapeutics (NASDAQ:CCCC) climbed 13% Monday following an upgrade from Stephens analyst Sudan Loganathan, who raised the stock from Equal Weight to Overweight and set a new price target of $6.00—implying more than 125% potential upside from Friday’s close.
Loganathan cited recent progress at the company and evolving dynamics in the multiple myeloma treatment sector as reasons for revising the investment outlook. While the analyst had previously noted limitations in C4’s TORPEDO platform due to underwhelming CFT1916 data, he now sees greater clarity and potential for the firm.
Key collaborations also remain in place, including Biogen’s advancement of BIIB142, an IRAK4 degrader using C4’s TORPEDO technology, into clinical trials. This has bolstered Stephens’ confidence in the company.
The analyst also emphasized optimism about C4’s focus on cemsidomide, its lead program. Loganathan noted that the upcoming full Phase 1 dose-escalation readout for cemsidomide at the IMS meeting on September 20, 2025, “could provide additional validation for the program.”
Stephens’ new $6 price target reflects the view that current shares offer an attractive entry point with considerable upside potential for investors.
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