Analyst Ritu Baral of TD Cowen maintained a Buy rating on Amicus, with a price target of $20.00.
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Ritu Baral has given her Buy rating due to a combination of factors that highlight Amicus’s strong financial performance and promising growth prospects. The company reported a significant increase in its Q3 revenues for both PomOp and Galafold, with PomOp revenues reaching $31 million and Galafold revenues slightly exceeding expectations at $138 million. This growth is supported by the expansion into new reimbursed territories, which has contributed to the company’s profitability.
Amicus has also maintained its guidance for the fiscal year 2025, projecting a robust gross margin in the mid-80% range and a non-GAAP operating expense between $380 million and $400 million. The company continues to advance its clinical studies, aiming to broaden the labels for PomOp and Galafold, which is expected to drive further growth. The strong cash position of $264 million at the end of Q3 and the reiterated guidance for GAAP profitability in the second half of 2025 further bolster the confidence in Amicus’s financial health and strategic direction.
In another report released today, Needham also maintained a Buy rating on the stock with a $14.00 price target.