4D Molecular Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on the stock and has a $36.00 price target.
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Matthew Caufield has given his Buy rating due to a combination of factors that highlight the promising potential of 4D Molecular Therapeutics. The company has made significant strides with its wet AMD intravitreal gene therapy candidate, 4D-150, which has shown positive long-term safety and efficacy data in the Phase 1/2 PRISM trial. This data supports the robust profile of 4D-150, which could potentially revolutionize the treatment landscape for wet AMD.
Furthermore, 4D Molecular Therapeutics has entered into a strategic partnership with Otsuka Pharmaceutical, securing $85 million upfront and additional cost-sharing commitments, which expands the global reach of 4D-150. The company also received an $11 million equity investment from the CF Foundation for the development of another candidate, 4D-710, and completed a $93 million equity offering. These financial developments ensure a strong cash position to fund operations well into the future, supporting the company’s ambitious pipeline and pivotal readouts for 4D-150.
Caufield covers the Healthcare sector, focusing on stocks such as Mineralys Therapeutics, Inc., LENZ Therapeutics, and Opus Genetics. According to TipRanks, Caufield has an average return of 16.9% and a 46.95% success rate on recommended stocks.
In another report released on November 10, RBC Capital also reiterated a Buy rating on the stock with a $32.00 price target.