Ritu Baral, an analyst from TD Cowen, maintained the Buy rating on Amicus (FOLD – Research Report). The associated price target remains the same with $20.00.
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Ritu Baral has given his Buy rating due to a combination of factors, primarily focusing on Amicus’s strong financial guidance and growth prospects. The company’s guidance for fiscal year 2025 suggests significant revenue growth driven by its Pompe and Galafold products, with expectations of a 65-85% increase in Pompe revenue and a 10-15% rise in Galafold revenue. These projections, alongside the anticipated GAAP profitability in the second half of 2025, underscore Amicus’s potential for robust financial performance.
Moreover, Amicus has demonstrated effective operational management, as reflected in their optimization of insurance approval times for new Pompe patients and strategic advancements in their clinical studies to expand product labels. The company reported a GAAP net income of $14.6 million for the fourth quarter of 2024, and the steady growth in patient numbers supports the revenue targets set for 2025. These factors collectively highlight the promising outlook for Amicus, justifying the Buy rating from Ritu Baral.
Baral covers the Healthcare sector, focusing on stocks such as Insmed, Sarepta Therapeutics, and Alnylam Pharma. According to TipRanks, Baral has an average return of 12.4% and a 47.39% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $14.00 price target.