Amicus initiated with a Buy at Jefferies

Jefferies initiated coverage of Amicus Therapeutics with a Buy rating and $18 price target. Amicus is a rare disease company “on the cusp of transitioning from value to growth,” the analyst tells investors in a research note. The firm says the shares trades near its view of the Fabry base business while the new Pompe launch should continue growing to be a $750M franchise “that’s practically free a current valuation.”