BMO Capital raised the firm’s price target on 4D Molecular to $70 from $50 and keeps an Outperform rating on the shares. The analyst says the 4D-150 Phase II results met investor expectations. The firm thinks the company’s gene therapy platform, coupled with management’s record of successful execution, can replicate the wet age-related macular degeneration success in various indications, fueling growth over the long term. In 2024, BMO sees multiple data, partnership and regulatory announcements “offering the opportunity for material upside”.
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