In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Amicus (FOLD), with a price target of $18. The company’s shares closed on Friday at $12.40.
Chattopadhyay said:
“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 16%, 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 2-star analyst with an average return of 0.3% and a 43.9% 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.
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Based on Amicus’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $120 million. In comparison, last year the company had a GAAP net loss of $61.83 million.
Based on the recent corporate insider activity of 54 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, 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.
