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Why Amicus Therapeutics Stock Rose in the Week Ended March 29

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Stock price movement trends

On March 29, 2018, Amicus Therapeutics (FOLD) was trading at $15.04, which represented a ~135% rise from its 52-week low of $6.41. 

On March 23, Amicus stock closed at $14.06, and in the week ended March 29, its stock reached $15.04, which represented a ~7% rise in the week.

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Reason for the rise

On March 22, 2018, Japan’s Ministry of Health, Labour and Welfare approved Amicus’s oral small molecule pharmacological chaperone Galafold capsules for the treatment of individuals over 16 years old with Fabry disease. Currently, Galafold is the only available drug for the treatment of Fabry disease.

In 2017 and 4Q17, Amicus Therapeutics reported revenues of $36.9 million and $14.7 million, respectively, compared to $5.0 million and $2.8 million, respectively, in 2016 and 4Q16.

Amicus anticipates a regulatory decision for its drug migalastat in Japan in 1H18 and in the United States in 3Q18. The FDA has granted the drug a Prescription Drug User Fee Act action date of August 13, 2018.

Analysts’ recommendations

Of the seven analysts tracking Amicus Therapeutics in April 2018, three have recommended “strong buys,” while another three have recommended “buys” on the stock. One analyst has recommended a “hold.”

On April 2, Amicus had a consensus 12-month target price of $19.93, which represents a ~32.5% ROI (return on investment) over the next 12 months.

Peers’ ratings

Of the 14 analysts tracking Catalent (CTLT) in April 2018, ~71% have recommended some form of a “buy” rating. On April 2, Catalent had a consensus 12-month target price of $48.08, which represents a ~17.1% ROI (return on investment) over the next 12 months.

Of the seven analysts tracking Emergent Biosolutions (EBS) in April 2018, ~71% have recommended some form of a “buy” rating. On April 2, Emergent BioSolutions had a consensus 12-month target price of $53.57, which represents a ~1.8% ROI over the next 12 months.

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