Morgan Stanley analyst Terence Flynn has maintained their neutral stance on CCCC stock, giving a Hold rating on September 16.
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Terence Flynn has given his Hold rating due to a combination of factors surrounding C4 Therapeutics’ recent data presentation and market dynamics. The Phase 1 trial results for cemsidomide, in combination with dexamethasone for treating relapsed/refractory multiple myeloma, showed promise as a potential option for late-stage patients. However, the multiple myeloma market remains highly competitive, which poses challenges for the company’s future growth prospects.
While the overall response rate improved to 34% from previous reports, and higher doses showed even better results, the data is still considered immature. The median duration of response and progression-free survival figures are not yet definitive, as many patients are still undergoing treatment. Additionally, the safety profile of the drug was generally well-tolerated, but the early stage of data maturity suggests caution. These factors contribute to the Hold rating, reflecting a balanced view of potential and risk.
In another report released on September 16, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $3.50 price target.