After Cowen & Co. and Cantor Fitzgerald gave Amicus (NASDAQ: FOLD) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Debjit Chattopadhyay initiated coverage with a Buy rating on Amicus today and set a price target of $18. The company’s shares closed on Friday at $11.35.
Chattopadhyay noted:
“Valuation and risks to our investment thesis. Our 12-month, $18 price target on shares of Amicus is derived from a 13-year DCF-based, sum-of-the-parts analysis driven by: beta of 1.70; terminal growth rate of 0.5%; risk premium of 4.93%; estimated WACC of 10.8%; and tax rate of 12.5% beginning in FY 2030. 42% each, plus the two Batten disease programs programs at a combined 14%, make up our rNPV. For AT-GAA, we assume a POS of 70%, whereas for CLN6 we assume a 45% POS and assign a 10% POS for CLN3.”
According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -1.5% and a 40.1% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on Amicus is a Strong Buy with an average price target of $22.50, implying a 98.2% upside from current levels. In a report issued on June 5, Cantor Fitzgerald also maintained a Buy rating on the stock with a $19 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 2.95M.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FOLD in relation to earlier this year.
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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.
