Needham ups Amicus Therapeutics to 'buy'

Amicus Therapeutics

18/09/2025 14:17

** Needham upgraded Amicus Therapeutics FOLD.O to "buy" from "hold", seeing company's current valuation as an attractive entry point

** Brokerage sees lower regulatory risk for DMX-200 after an FDA decision on a competitor drug suggested proteinuria reduction is a suitable endpoint for approval in FSGS

** "We think investors are overlooking the opportunity in FSGS", the broker says, noting DMX-200 could reach over $1.5 billion in peak US annual sales for the rare kidney disease

** Needham also sees more room for long-term growth in the firm's Fabry disease drug Galafold, nearly doubling its global sales estimate to roughly $1.4 billion by 2037

** Broker views DMX-200 as potentially complementary to competitors, not directly competitive, due to its different mechanism of action targeting inflammation

** Stock down 15.39% YTD

(Reporting by Tristan Veyet)

((Tristan.chabba@thomsonreuters.com))