4D Molecular price target raised to $31 from $30 at Chardan

Chardan raised the firm’s price target on 4D Molecular to $31 from $30 and keeps a Buy rating on the shares after the company announced a license agreement giving Astellas rights to use 4D’s intravitreal R100 AAV vector to develop a therapy for 1 rare monogenic ophthalmic disease, with options to expand to two additional ocular monogenic targets. The deal is validation of 4D’s capsids in clinical studies and provides the company with potential for non-dilutive capital while leaving room for further partnerships and internal pipeline growth, the analyst tells investors in a research note.