4D Molecular price target lowered to $40 from $42 at BofA

BofA lowered the firm’s price target on 4D Molecular (FDMT) to $40 from $42 and keeps a Buy rating on the shares. The firm continues to view 4D-150’s clinical profile as “highly differentiated” based on the long-term efficacy and safety data so far and sees wet AMD as “a highly attractive commercial opportunity,” says the analyst, who updated estimates for Q4 results, cash and share count and increased operating expense estimates based on recent trends.