J.P.Morgan sees Amicus Therapeutics soaring 60% by end-2024

Amicus Therapeutics

29/09/2023 10:09

** J.P.Morgan adds Amicus Therapeutics  FOLD.O  to U.S.
focus list; hikes PT by ~12% to $19, implying a 60% surge from
last close by end of next year
    ** Stock slumped to near four-month lows and closed down 8%
on Thursday on concerns around limited use of co's treatment for
a rare muscle disorder, Pompe disease
    ** Brokerage says long-term potential of Pompe treatment and
its drug for treating Fabry disease are under appreciated 
    ** Sees peak sales for Pompe treatment at over $750-800 mln,
and ~$600-650 mln for Fabry drug
    ** Leerink Partners raises PT to $18, in line with median PT
as per LSEG data; says FOLD oversold going into FDA approval 
    ** Sees no launch related issues, says FOLD well-positioned
to hit the ground running 
    ** FOLD down ~3% YTD as of last close

 (Reporting by Susan Mathew in Bengaluru)
 ((susan.mathew@thomsonreuters.com))