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Cantor Fitzgerald Initiates Coverage on 4D Molecular with Overweight Rating, Highlights Undervaluation

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Cantor Fitzgerald Initiates Coverage on 4D Molecular with Overweight Rating, Highlights Undervaluation
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Leading investment bank, Cantor Fitzgerald, has initiated coverage on 4D Molecular (NASDAQ:FDMT) with an overweight rating, emphasizing that the price of the shares fail to reflect the significant progress made by the company across its portfolio.

Cantor Fitzgerald highlights a “compelling” risk/reward profile for investors, citing numerous program and regulatory updates on the horizon. The firm’s valuation is primarily based on 4D’s cystic fibrosis gene therapy program, which analysts believe has the potential to generate annual sales of nearly $1 billion.

Upcoming Catalysts

  • Cohort 2 data for 4D’s cystic fibrosis program in November
  • Regulatory path update for the cystic fibrosis program in Q1 2024
  • Regulatory path update for the wet AMD gene therapy program in Q1 2024
  • Phase 2 data for wet AMD in 1H 2024
  • Update on the Fabry program and potential out-license in 2H 2023/1H 2024

Cantor Fitzgerald has set a price target of $32 for 4D Molecular shares, indicating a substantial upside potential.