BofA lowered the firm’s price target on 4D Molecular (FDMT) to $42 from $46 on Friday and kept a Buy rating on the shares. The firm notes 4D Molecular provided a comprehensive pipeline update highlighting strategic prioritization of the wet age-related macular degeneration/diabetic macular edema and cystic fibrosis programs. 4D Molecular plans to present 52-week data in wAMD on Feb 8 at the AED meeting. BofA thinks the update should provide clarity on the long-term durability and efficacy, which has been a key investor debate. The firm remains encouraged by 4D-150’s differentiated efficacy and safety profile to-date and view the February update as a key de-risking event.
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Read More on FDMT:
- 4D Molecular price target lowered to $6 from $8 at Morgan Stanley
- 4D Molecular downgraded to Market Perform from Outperform at BMO Capital
- 4D Molecular focuses pipeline to prioritize 4D-150 in wet AMD, DME
- 4D Molecular announces interim data on 4D-150 SPECTRA clincial trial
- 4D Molecular price target lowered to $46 from $79 at BofA