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BMO Capital Markets Says 4D Molecular Could Be 'Attractive Acquisition Target'

  • BMO Capital Markets initiated coverage on 4D Molecular Therapeutics Inc (NASDAQ: FDMT) with an Outperform rating and a price target of $50.

  • The analyst writes that 4DMT's platform has generated competitive gene therapies and been clinically validated through its five ongoing clinical programs.

  • BMO notes that 4D Molecular Therapeutics' Wet Age-Related Macular Degeneration (wet AMD) program addresses key limitations of approved/investigational therapies and can potentially confer a $5 billion opportunity.

  • Also Read: HC Wainwright Creates Bullish Pitch On 4D Molecular Citing 'Broader Systemic Potential.'

  • The company's cystic Fibrosis asset 4D-710 can be the first therapy delivering clinical effects in patients without treatment options, potentially unlocking around $3 billion opportunity.

  • In cystic fibrosis, a 3-5%+ improvement in FEV1 can drive FDMT stock over 50% higher and render the stock an attractive acquisition target.

  • Potential announcements around partnerships would trigger further upside.

  • Price Action: FDMT shares are up 0.96% at $21.47 on the last check Monday.

Latest Ratings for FDMT

Date

Firm

Action

From

To

Jan 2022

SVB Leerink

Initiates Coverage On

Outperform

Jan 2021

B of A Securities

Initiates Coverage On

Buy

Jan 2021

Goldman Sachs

Initiates Coverage On

Neutral

View More Analyst Ratings for FDMT

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View the Latest Analyst Ratings

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This article originally appeared on Benzinga.com

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