TD Cowen Downgrades Amicus Therapeutics (FOLD) to Hold

TD Cowen analyst Ritu Baral downgraded Amicus Therapeutics (NASDAQ: FOLD) from Buy to Hold with a price target of $14.50 (from $20.00).

The analyst comments: "This AM, BMRN announced its intent to acquire FOLD for $14.5/share in cash ($4.8B EV) concurrent to IP settlements with Aurobindo and Lupin, giving BMRN certainty on Galafold's IP into 2037. We believe BMRN is a logical acquirer of FOLD as Galafold and PomOp are strong fits for its rare ERT business. We are downgrading to Hold and decreasing our PT to $14.5."

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 $14.18 yesterday.

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