Leerink Partners analyst Mani Foroohar has maintained their bullish stance on FDMT stock, giving a Buy rating yesterday.
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Mani Foroohar’s rating is based on the promising data from the PRISM study, which showed significant reductions in supplemental aflibercept injections among patients with wet age-related macular degeneration. Specifically, the 52-week data revealed that patients had an 83% reduction in these injections, with many patients needing none or just one injection. This impressive result suggests that 4D-150, the company’s product, is effective in reducing the treatment burden for patients.
Furthermore, the durability of aflibercept expression and the favorable safety profile of 4D-150 over a long-term follow-up period add to the positive outlook. Recently diagnosed patients showed even better outcomes, indicating that early intervention can lead to improved treatment results. Despite some concerns about trial costs and market uptake, the data has led to an optimistic view of the company’s potential, prompting the Buy rating.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $45.00 price target.