Morgan Stanley Downgrades Amicus Therapeutics (FOLD) to Equalweight

Morgan Stanley analyst Jeffrey Hung downgraded Amicus Therapeutics (NASDAQ: FOLD) from Overweight to Equalweight with a price target of $12.00 (from $17.00).

The analyst comments: "Over the last year, the company has executed well commercially, met its goals financially by achieving non-GAAP profitability for 2024, and settled its Galafold patent litigation with Teva. We continue to believe that Amicus is well-positioned, but we think expectations for Amicus have increased with the company’s progress, which are now largely priced into shares. Increasingly, investors have shifted focus to what will provide the next leg of growth for the company. We would look to see potential updates to the company’s pipeline in 2025 and beyond as we believe those programs will have the greatest potential to unlock further value for FOLD shares."

For an analyst ratings summary and ratings history on Amicus Therapeutics click here. For more ratings news on Amicus Therapeutics click here.

Shares of Amicus Therapeutics closed at $10.15 yesterday.

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