H.C. Wainwright analyst Matthew Caufield reiterated a Buy rating on 4D Molecular Therapeutics today and set a price target of $36.00.
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Matthew Caufield has given his Buy rating due to a combination of factors including the promising data from the Phase 2a SPECTRA trial for 4D-150 in diabetic macular edema (DME). The trial results presented at the ASRS meeting demonstrated the durability and efficacy of 4D-150, showing sustained vision gains and anatomical control over 60 weeks with a significant reduction in injection frequency compared to standard treatments like aflibercept. This is particularly noteworthy as it suggests a potential for label expansion if approved, offering a less burdensome treatment option for patients.
Furthermore, the safety profile of 4D-150 was consistent, with no intraocular inflammation or hypotony observed, and patients were able to discontinue corticosteroids after initial dosing. The 3E10 dose showed a 78% reduction in injections compared to aflibercept, highlighting its potential to significantly reduce the treatment burden for DME patients. These factors, along with strategic focus on Phase 3 development for wet AMD, underpin the Buy rating and the $36 price target, despite the inherent risks associated with developmental-stage biopharmaceutical companies.
According to TipRanks, Caufield is an analyst with an average return of -6.7% and a 37.29% success rate. Caufield covers the Healthcare sector, focusing on stocks such as Diamedica Therapeutics, Opus Genetics, and LENZ Therapeutics.
In another report released on July 28, Bank of America Securities also maintained a Buy rating on the stock with a $30.00 price target.