Needham analyst Gil Blum upgraded the rating on Amicus to a Buy today, setting a price target of $14.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Gil Blum has given his Buy rating due to a combination of factors influencing Amicus’s stock. One significant reason is the underappreciated potential of DMX-200 in treating FSGS, especially after recent developments with Travere’s Filspari, which suggest a lowered regulatory risk. The absence of an FDA advisory committee meeting requirement ahead of Filspari’s PDUFA date indicates a favorable regulatory environment for similar treatments, enhancing the prospects for DMX-200.
Additionally, after reassessing the growth potential of Galafold, Blum sees more room for long-term expansion than initially anticipated. This reevaluation, combined with the current share price of Amicus, presents an attractive investment opportunity. Consequently, Blum upgraded the stock from a Hold to a Buy, setting a target price of $14.
In another report released on September 16, Bank of America Securities also maintained a Buy rating on the stock with a $14.00 price target.