Published on 27 Feb 2024 on Simply Wall St. via Yahoo Finance
New Forecasts: Here's What Analysts Think The Future Holds For C4 Therapeutics, Inc. (NASDAQ:CCCC)
C4 Therapeutics, Inc. (NASDAQ:CCCC) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with analysts modelling a real improvement in business performance. C4 Therapeutics has also found favour with investors, with the stock up a noteworthy 25% to US$9.51 over the past week. It will be interesting to see if today's upgrade is enough to propel the stock even higher.
Following the upgrade, the most recent consensus for C4 Therapeutics from its eight analysts is for revenues of US$27m in 2024 which, if met, would be a major 28% increase on its sales over the past 12 months. Losses are forecast to hold steady at around US$1.91 per share. However, before this estimates update, the consensus had been expecting revenues of US$22m and US$2.37 per share in losses. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a sizeable increase to their revenue forecasts while also reducing the estimated loss as the business grows towards breakeven.
Check out our latest analysis for C4 Therapeutics