Barclays initiated coverage of C4 Therapeutics (CCCC) with an Overweight rating and $8 price target The company’s lead asset, cemsidomide is an IKZF1/3 degrader being developed in patients with multiple myeloma, MM, and selected non-Hodgkin lymphomas, and the early phase 1 dose escalation data for cemsidomide has been encouraging as the company has recently shifted its development focus to the program, the analyst tells investors in a research note. C4 will present updated cemsidomide MM data September 17-20 as well as dose escalation data in NHL in Q4, and Barclays views cemsidomide as potentially best-in-class IKZF1/3 degrader in a category where Revlimid, a first-generation IKZF1/3 degrader, delivered peak sales of $12.9B.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCCC:
- C4 Therapeutics initiated with an Overweight at Barclays
- C4 Therapeutics: Promising Growth and Competitive Edge with TORPEDO Platform and Strategic Partnerships
- C4 Therapeutics upgraded to Overweight from Equal Weight at Stephens
- Brookline sees potential upside to outlook for C4 Therapeutics after Biogen news
- C4 Therapeutics announces Biogen had its IND for BIIB142 accepted by FDA