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Goldman Sachs reinstated its buy rating on 4D Molecular Therapeutics (NASDAQ:FDMT), citing future catalysts.
The investment bank said it sees shares trading higher on catalysts that include 24-week data for 4D-150 in wet AMD and diabetic macular edema in 2H, FDA feedback on 4D-710 aerosol in cystic fibrosis unsuitable/intolerant modulator and modulator combinations in the first trimester and data submission in the second trimester to lift the clinical hold on 4D-310 in Fabry disease.
Goldman said it expected peak sales of about $7.5 billion over six programs in 2032. The bank set its price target for the stock at $81.