Analysts Just Published A Bright New Outlook For C4 Therapeutics, Inc.'s (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 forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with analysts modelling a real improvement in business performance.

After this upgrade, C4 Therapeutics' six analysts are now forecasting revenues of US$31m in 2024. This would be a substantial 56% improvement in sales compared to the last 12 months. Losses are presumed to reduce, shrinking 11% per share from last year to US$1.64. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$26m and losses of US$1.93 per share in 2024. 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.

See our latest analysis for C4 Therapeutics

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. One thing stands out from these estimates, which is that C4 Therapeutics is forecast to grow faster in the future than it has in the past, with revenues expected to display 81% annualised growth until the end of 2024. If achieved, this would be a much better result than the 23% annual decline over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 18% per year. Not only are C4 Therapeutics' revenues expected to improve, it seems that the analysts are also expecting it to grow faster than the wider industry.

The Bottom Line

The most important thing here is that analysts reduced their loss per share estimates for this year, reflecting increased optimism around C4 Therapeutics' prospects. They also upgraded their revenue estimates for this year, and sales are expected to grow faster than the wider market. More bullish expectations could be a signal for investors to take a closer look at C4 Therapeutics.

Analysts are clearly in love with C4 Therapeutics at the moment, but before diving in - you should be aware that we've identified some warning flags with the business, such as dilutive stock issuance over the past year. You can learn more, and discover the 3 other flags we've identified, for free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.