Chardan Capital Remains a Hold on Amicus (FOLD)

Chardan Capital analyst Gbola Amusa reiterated a Hold rating on Amicus (NASDAQ: FOLD) today and set a price target of $15. The company’s shares opened today at $12.76.

Amusa said:

“We understand from our discussions with Amicus that, in association with the deal, AVXS-101 innovator, Dr. Brian Kaspar, will act as a senior advisor (consultant) to Amicus, as Dr. Kaspar was able to carve out this ability in his prior agreement with Novartis (not rated), which acquired AveXis. We note the Celenex acquisition does not contribute to Amicus’ head count, as Celenex was essentially a “virtual” company associated with NCH. We understand Amicus may therefore continue to build internal GT capabilities and will look to possibly bolster Fabry and Pompe disease program competencies with GT assets (i.e. Celenex is simply a first step).”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 26.9% and a 53.3% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.

Currently, the analyst consensus on Amicus is a Moderate Buy with an average price target of $23.

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Based on Amicus’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $61.83 million. In comparison, last year the company had a GAAP net loss of $48.14 million.

Based on the recent corporate insider activity of 62 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. is a biotechnology company, which is engaged in the discovery, development 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.