Amicus downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Amicus (FOLD) to Equal Weight from Overweight with a price target of $12, down from $17. Over the last tyear, the company has executed well commercially, met its goals financially by achieving profitability for 2024, an settled its Galafold patent litigation with Teva (TEVA), the analyst tells investors in a research note. The firm continues to believe that Amicus is well-positioned, but thinks expectations have increased with the company’s progress, which are now largely priced into shares.