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H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Amicus (FOLD) today and set a price target of $18. The company’s shares closed yesterday at $11.39.
Chattopadhyay observed:
“Valuation and risks to our investment thesis. Our current 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 1.77; 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. 40% each, plus the two Batten disease programs programs at a combined 20%, 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 ranked 0 out of 5 stars with an average return of -2.9% and a 39.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Precision BioSciences Inc, and Voyager Therapeutics Inc.
Amicus has an analyst consensus of Strong Buy, with a price target consensus of $22.67, which is a 99.0% upside from current levels. In a report issued on August 1, Cowen & Co. also maintained a Buy rating on the stock with a $31 price target.
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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 55 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.
