Morgan Stanley analyst Judah Frommer upgraded 4D Molecular (FDMT) to Equal Weight from Underweight. The firm is also raising its price target view on the stock to a range of $7-$16 from the prior range of $3-$7. Morgan Stanley notes that class safety concerns among physicians and commercial dynamics have driven its view of retinal disease gene therapy to date. The firm notes however that its new rating is based on the continued positive data for 4D-150, recent biopharma interest, and growing enthusiasm for 4D-150 among key opinion leaders, the analyst tells investors in a research note.
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