C4 Therapeutics price target raised to $30 from $20 at Brookline

Brookline raised the firm’s price target on C4 Therapeutics (CCCC) to $30 from $20 and keeps a Buy rating on the shares. The timing of the Phase II cemsidomide/CFT6455 MOMENTUM trial initiation further increases the firm’s conviction for the second quarter initiation of the Phase 1b trial of cemsidomide in combination with elranatamab, the analyst tells investors in a research note. Data continue to show cemsidomide’s differentiated safety and tolerability profiable, supporting clear development paths for second line and later patient populations, the firm adds.