Amicus (FOLD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 19. Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on the stock and has a $17.00 price target.
Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Amicus’s potential for growth and profitability. The company has shown promising sales figures for its therapies, including Pombiliti/cipaglucosidase alfa and Opfolda/miglustat, despite a plateau in patient additions. This is attributed to the absence of new country launches and seasonal factors. However, the recent approval in Australia and anticipated approvals in Japan and Canada, along with plans to launch in up to 10 new countries, indicate a strong market expansion strategy.
Additionally, Amicus’s Galafold therapy continues to exceed expectations, consistently surpassing sales forecasts throughout 2024. The management’s confidence is reflected in their reiterated revenue growth projections for 2025 and the expectation of positive GAAP net income in the latter half of 2025. These elements, combined with the strategic expansion into new markets, support the optimistic outlook and justify the Buy rating for Amicus.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 13.4% and a 43.55% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Insmed, and PTC Therapeutics.
In another report released on February 19, TD Cowen also maintained a Buy rating on the stock with a $20.00 price target.