Fantasy Football: Week 4 rankings, top-150 overall Flex and top waiver-wire targets

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So, was the reaction to Ezekiel Elliott's Week 1 just a massive overreaction? It sure seems like it. Elliott ran the ball very effectively in Monday's win over the Eagles, racking up 95 yards on 17 carries and a pair of touchdowns, and he now has 44.3 PPR points over the last two games.

Just like that, Elliott is RB7 on the season. Some will point to Tony Pollard's role -- one he continues to impress in, it should be noted! -- as reason to be skeptical about Elliott, but the truth is, Elliott has dominated snaps in this backfield and outside of a strange game script against the best run defense in football, Elliott has been very effective.

Which is to say, there's no reason to think he's going to lose his job anytime soon. And there's not really any reason to think Elliott won't be a must-start Fantasy option moving forward. It was nice to get confirmation of that heading into Week 4.

In today's newsletter, you can find Jamey Eisenberg's top priorities on the waiver wire for Week 4 as well as the first look at my rankings for Week 3 in today's newsletter, but first, here's a very quick rundown on the news you need to know from Monday:

A.J. Brown is "week to week" with a hamstring injury.
JuJu Smith-Schuster is day to day with a rib injury.
KJ Hamler has a torn ACL and will undergo season-ending surgery.
Sean McVay is "hopeful" Darrell Henderson (ribs) will be able to play in Week 4. I've got Sony Michel as a top-15 RB with Henderson out, but Henderson would be projected for a very similar role if he does play.
James White is out indefinitely with a hip subluxation.
Giovani Bernard is day to day with an MCL sprain.
The Chiefs signed Josh Gordon to the practice squad. The expectation is he'll join the active roster when he's ready.
The Jaguars acquired TE Dan Arnold from the Panthers along with a third-round pick in exchange for former first-round DB C.J. Henderson and a fifth-rounder.

For more on what will be another busy week on the injury front, make sure you tune in to Fantasy Football Today on CBS Sports HQ at noon ET, and for help locking in your waiver-wire claims join Jamey Eisenberg, Adam Aizer, and I on the FFT YouTube stream tonight at 8 p.m., where we'll be taking your questions live for an hour. If you've got any questions before then, as always, you can email me at Chris.Towers@CBSi.com with the subject line "#AskFFT" to be included this week -- including in tomorrow's trade mailbag.

And here's what we've got on tap in today's newsletter:

➕Top Week 4 Waiver Wire Targets
📈Week 4 Rankings📉

➕Top Week 4 Waiver Wire Targets

Rondale Moore scores in Week 2. Douglas DeFelice / USA TODAY Sports

Week 3 may not have that obvious must-add running back, but it might have even more potential difference makers on the waiver-wire than last week. So, you need to know how to best allocate your resources tonight. Jamey Eisenberg's Waiver Wire column is up and ready for you to get all the help you need. You can find there here. Here are the top targets for this week's run:

Jamey Eisenberg's top targets

Chuba Hubbard (45% rostered) -- Filling in for Christian McCaffrey made Mike Davis a must-start Fantasy option last season, so while McCaffrey is only expected to miss a couple of weeks with this hamstring injury, Hubbard is a high priority for anyone who needs help at running back. If you're 0-3 and need a starting RB, Hubbard might be worth up to 50% of your FAB. He should be the lead back, but in deeper leagues consider adding Royce Freeman in case the Panthers go in an unexpected direction.
Tim Patrick (60%) -- Patrick has been productive every time he has gotten an opportunity in the NFL, and with KJ Hamler (knee) joining Jerry Jeudy (ankle) on the sidelines, Patrick has an even bigger opportunity now. He should be the No. 2 target for Teddy Bridgewater moving forward, and could be a top-30 WR.
Emmanuel Sanders (59%) -- Readers of this newsletter shouldn't be surprised that Sanders had a breakout game in Week 3 -- I was calling it all week. Josh Allen solved his early accuracy issues and Sanders turned in a huge game. Allen is looking for Sanders down the field consistently, and opportunities for big plays have been there in all three games. He's a high-upside WR3.
Jakobi Meyers (59%) -- Here's an easy-to-spot pattern: In the Patriots two losses, Meyers has 23 targets; in their win, he had six. The Patriots host the Buccaneers in a game where they opened as 5.5-point underdogs. You do the math.
Hunter Renfrow (20%) -- I'm fairly confident Renfrow isn't even one of the Raiders three most talented receivers, but he's second on the team in targets and continues to produce. There isn't a ton of upside here, but Renfrow has a nice safe floor in PPR.

One (more) target for each position

QB: Taylor Heinicke (13%) -- Heinicke is fearless, and that's going to lead to a lot of dumb mistakes. But it's also going to lead him to take chances to find his playmakers down the field, and given his rushing abilities and a Week 4 matchup with the Falcons, I like Heinicke as a streamer for this week.
RB: Peyton Barber (7%) -- Barber did a pretty good Josh Jacobs imitation in Week 3 and could be a low-end starting option if Jacobs is out for Monday's game against the Chargers.
WR: Nick Westbrook (0%) -- Alright, here's a really, really deep option. With A.J. Brown seemingly likely out for Week 4 and Julio Jones missing the fourth quarter of Sunday's game with what Mike Vrabel unhelpfully labeled "tightness," there could be an opportunity for Westbrook to step up.
TE: Tyler Conklin (4%) -- We identified Conklin as someone who could step up and make an impact with Irv Smith out for the season, and he finally did that in Week 3 against the Seahawks, catching seven passes for 70 yards and a touchdown. He has 13.3% target share and could end up the No. 3 option in this passing game.

📈Week 4 Rankings📉

NFL: Indianapolis Colts at Jacksonville Jaguars — Sep 13, 2020; Jacksonville, Florida, USA; Jacksonville Jaguars running back James Robinson (30) is grabbed on the ankle by Indianapolis Colts middle linebacker Anthony Walker (54) as defensive tackle DeForest Buckner (99) and defensive end Justin Houston (50) and Jaguars center Brandon Linder (65) look on during the first quarter at TIAA Bank Field. Reinhold Matay / USA TODAY Sports

Here's where things stand for me in my first run through of the Week 4 rankings for PPR leagues. You can find Jamey, Dave, and Heath's rankings right here: