4D Molecular Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst on July 2. Analyst Mani Foroohar from Leerink Partners maintained a Buy rating on the stock and has a $17.00 price target.
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Mani Foroohar has given his Buy rating due to a combination of factors including the proactive steps 4D Molecular Therapeutics is taking to streamline its operations and improve efficiency. The company is ahead of schedule in its Phase 3 trial for wet AMD in North America, with data expected sooner than initially projected. Additionally, the initiation of a global trial for wet AMD further demonstrates the company’s commitment to advancing its pipeline.
Moreover, the restructuring plan, which includes a significant workforce reduction, is expected to result in substantial cost savings, extending the company’s cash runway into 2028. Despite the challenging market environment for gene therapy, there is notable interest from both patients and physicians in new treatment modalities for wet AMD, as evidenced by the strong enrollment rates. These strategic moves and market interest underpin Foroohar’s optimistic outlook on the stock.
According to TipRanks, Foroohar is an analyst with an average return of -9.7% and a 42.33% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as RegenXBio, Moderna, and Crispr Therapeutics AG.