4D Molecular assumed with a Buy at Jefferies

Jefferies analyst Faisal Khurshid assumed coverage of 4D Molecular (FDMT) with a Buy rating and a price target of $21, down from $40. The firm likes that 4D addresses the key unmet need for durability in wet AMD with an innovative gene therapy approach, the analyst tells investors. DME adds “a secondary upside driver,” while CF remains “a non-core but viable option with limited downside,” the analyst added.