Analysts' Revenue Estimates For C4 Therapeutics, Inc. (NASDAQ:CCCC) Are Surging Higher

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. The revenue forecast for this year has experienced a facelift, with analysts now much more optimistic on its sales pipeline.

Following the latest upgrade, the seven analysts covering C4 Therapeutics provided consensus estimates of US$28m revenue in 2024, which would reflect a discernible 3.1% decline on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$26m in 2024. It looks like there's been a clear increase in optimism around C4 Therapeutics, given the substantial gain in revenue forecasts.

Check out our latest analysis for C4 Therapeutics

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We would also point out that the forecast 6.1% annualised revenue decline to the end of 2024 is better than the historical trend, which saw revenues shrink 25% annually over the past three years By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 18% per year. So while a broad number of companies are forecast to grow, unfortunately C4 Therapeutics is expected to see its sales affected worse than other companies in the industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for C4 Therapeutics this year. They're also anticipating slower revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at C4 Therapeutics.

Still got questions? We have analyst estimates for C4 Therapeutics going out to 2026, and you can see them free on our platform here.

Of course, seeing company management invest large sums of money in a stock can be just as useful as knowing whether analysts are upgrading their estimates. So you may also wish to search this free list of stocks with high insider ownership.

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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.