Analyst Jeffrey Hung of Morgan Stanley maintained a Hold rating on Amicus (FOLD – Research Report), retaining the price target of $12.00.
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Jeffrey Hung has given his Hold rating due to a combination of factors including Amicus Therapeutics’ consistent achievement of its targets and the anticipated revenue growth driven by geographic expansion and patient switches. The company’s strategic focus on expanding the use of its products in new regions and among new patient groups is expected to contribute to its revenue objectives in 2025.
Despite these positive developments, the rising investor expectations, due to the company consistently meeting its goals in recent years, temper the outlook. This cautious approach reflects the need for more updates on the company’s plans for its Fabry and Pompe programs to further solidify its market position. Therefore, while the prospects are promising, the need for additional clarity warrants a Hold rating at this time.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FOLD in relation to earlier this year.