Goldman reinstates buy rating on 4D Molecular, cites upcoming catalysts (NASDAQ:FDMT)

Goldman Sachs has reinstated its buy rating on 4D Molecular Therapeutics (NASDAQ:FDMT), citing upcoming catalysts.

The investment bank said it sees shares trading higheron catalysts that include 24-week data for 4D-150 in wet AMD and diabetic macular edema in 2H, FDA feedback on aerosol 4D-710 in modulator ineligible/intolerant cystic fibrosis and modulator combinations in Q1, and data submission in Q2 to lift the clinical hold on 4D-310 in Fabry disease.

Goldman said it was modeling around $7.5B in peak sales over six programs in 2032. The bank set its price target for the stock at $81.