Amicus, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Maxwell Skor from Morgan Stanley maintained a Buy rating on the stock and has a $12.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Maxwell Skor has given his Buy rating due to a combination of factors surrounding Amicus Therapeutics’ current legal situation and its potential implications. The recent denial of Aurobindo’s motion for summary judgment regarding the patent eligibility of Galafold is seen as a positive development for Amicus, as it maintains the validity of their patents for the time being. This decision, although not final, suggests a potential for a negotiated settlement, which historically occurs in a significant majority of similar cases.
Furthermore, Amicus has expressed strong confidence in its intellectual property position, which adds to the positive outlook. The upcoming trial, set to address additional invalidity challenges, could further clarify the company’s standing. Skor believes these developments align with previous analyses that supported an upgrade to an Overweight rating, reinforcing the view that Amicus’s stock is a promising investment opportunity.
Skor covers the Healthcare sector, focusing on stocks such as Pharvaris, Ascendis Pharma, and Insmed. According to TipRanks, Skor has an average return of 12.3% and a 68.42% 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.