Morgan Stanley has raised its rating for Amicus Therapeutics (FOLD, Financial) from Equal Weight to Overweight, accompanied by an increased price target from $102 to $108. This upgrade reflects the firm's positive outlook on Amicus's intellectual property stance as it approaches a critical legal phase with Aurobindo. Additionally, Morgan Stanley is optimistic about the potential shift of patients from Nexviazyme/Lumizyme to PomOp over the long term.
The firm also addressed the recent first-quarter earnings miss, highlighting that this was largely due to timing issues with orders. Another contributing factor was the unexpected rise in the UK Voluntary Scheme for Branded Medicines Pricing and Access rebate rate, which jumped to 22% from the projected 12%-15%, forming an important aspect of the updated financial guidance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Amicus Therapeutics Inc (FOLD, Financial) is $15.67 with a high estimate of $22.00 and a low estimate of $9.00. The average target implies an upside of 158.10% from the current price of $6.07. More detailed estimate data can be found on the Amicus Therapeutics Inc (FOLD) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, Amicus Therapeutics Inc's (FOLD, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Amicus Therapeutics Inc (FOLD, Financial) in one year is $20.76, suggesting a upside of 242.01% from the current price of $6.07. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Amicus Therapeutics Inc (FOLD) Summary page.
