Amicus (FOLD) Gets a Buy Rating from Cantor Fitzgerald

In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Amicus (FOLD), with a price target of $20. The company’s shares closed yesterday at $13.67.

Piros wrote:

“: We reiterate our OW rating and $20 12-month price target on Amicus following 1Q19 financial and corporate updates. Amicus reported 1Q19 Galafold sales of $34 million, vs. our estimate of $40 million and consensus (FactSet) estimates of $37 million. Despite this slight miss, we are not concerned as 1) management reiterated 2019 FY guidance of $160-180 million, and 2) 2Q19 patient additions have exceeded management expectations. We have perceived numerous signs that bolster our confidence that Amicus could reach these revenue goals.”

According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.0% and a 46.0% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Amicus with a $22.75 average price target, representing a 66.4% upside. In a report issued on April 30, Cowen & Co. also maintained a Buy rating on the stock with a $31 price target.

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The company has a one-year high of $17.62 and a one-year low of $8.27. Currently, Amicus has an average volume of 3.05M.

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Amicus Therapeutics, Inc. engages in the discovery, developmen0t, and commercialization of novel treatments for patients living with rare and orphan diseases. Its product include migalastat HCl, which is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy for fabry disease.