Amicus, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on the stock and has a $14.00 price target.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the strong performance and growth potential of Amicus Therapeutics. The company reported impressive second-quarter results with significant revenue growth driven by its Galafold and Pombiliti+Opfolda (P&O) franchises. Galafold continues to capture a substantial share of the market for Fabry patients, and there is potential for further growth as more undiagnosed patients are identified and treated.
Additionally, the P&O franchise is gaining momentum with new patient starts and is expected to accelerate further in the second half of the year. The company is also expanding its pipeline with promising developments like DMX-200 for FSGS, which addresses unmet medical needs. These factors, combined with a strategic focus on late-stage de-risked assets, support the Buy rating and the increased price objective of $14.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $20.00 price target.