Analyst Mani Foroohar from Leerink Partners reiterated a Buy rating on 4D Molecular Therapeutics (FDMT – Research Report) and keeping the price target at $17.00.
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Mani Foroohar 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 progress in its clinical trials, particularly with the 4D-150 program for wet age-related macular degeneration (AMD) and diabetic macular edema (DME). The initiation of the Phase 3 FRONT-2 trial and the alignment with the FDA on the Phase 3 study design for DME are notable milestones that suggest a clear path forward for regulatory approval.
Additionally, the financial health of 4D Molecular Therapeutics is robust, with the company ending the quarter with $458 million in cash and equivalents, which is expected to support operations until 2028. This financial stability, combined with the strategic advancements in their pipeline, underpins the optimistic outlook and the reiterated price target of $17. These factors collectively contribute to the Buy rating, indicating confidence in the company’s future growth and potential market impact.
Foroohar covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Tenaya Therapeutics, and Ionis Pharmaceuticals. According to TipRanks, Foroohar has an average return of -13.9% and a 37.64% success rate on recommended stocks.
In another report released on May 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $36.00 price target.
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