In a research report issued today, Cowen analyst Ritu Baral reiterated an Outperform rating on Amicus Therapeutics (NASDAQ:FOLD) with a $14 price target, following today’s announcement of additional positive data on an important cardiac endpoint from the company’s first Phase 3 study (Study 011) and the Phase 3 extension (Study 041) of the oral small molecule chaperone migalastat HCl (“migalastat”) for Fabry disease.
Baral noted, “Topline extension LVMi Cardiac data from the US Ph3 migalastsa extension trial in Fabry suggest improved cardiac parameters that resemble data released in Aug ’14 from the EU Ph3 trial. We think data further supports migalastat’s chance of conditional approval at FDA, and we continue to expect a post-Type B meeting refulatory update from the meeting in late 1Q15.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ritu Baral has a total average return of 19.7% and a 46.5% success rate. Baral has a -17.3% average return when recommending FOLD, and is ranked #93 out of 3434 analysts.