Analyst Ritu Baral of TD Cowen maintained a Buy rating on Amicus, retaining the price target of $20.00.
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Ritu Baral’s rating is based on Amicus’s strong financial performance and strategic initiatives. The company reported a significant increase in revenue for both its PomOp and Galafold products, exceeding market expectations. This growth is attributed to new patient starts and increased demand, which signals a positive trend for future revenue streams.
Additionally, Amicus has maintained its financial guidance for fiscal year 2025, including expectations for GAAP profitability and robust gross margins. The company’s strategic investments, such as the license acquisition of DMX-200, further demonstrate its commitment to expanding its product pipeline and enhancing long-term growth prospects. These factors collectively support the Buy rating given by Ritu Baral.
In another report released on July 17, Morgan Stanley also upgraded the stock to a Buy with a $12.00 price target.