Leerink lowered the firm’s price target on 4D Molecular (FDMT) to $16 from $17 and keeps an Outperform rating on the shares after the company announced Q2 results and completion of enrollment in the lower dose cohorts of the Phase 1 trial of 4D-710 in cystic fibrosis. The firm’s revised target reflects updated R&D expense estimates for ongoing pivotal trials, the analyst noted.
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