Amicus price target lowered to $19 from $21 at JPMorgan

JPMorgan analyst Anupam Rama lowered the firm’s price target on Amicus to $19 from $21 and keeps an Overweight rating on the shares. The analyst does not believe the shares currently reflect the near- or long-term potential of Pombiliti plus Opfolda. Launch progress with the product has the potential to grind Amicus shares to the mid- to high-teens levels, the analyst tells investors in a research note. The firm senses there are concerns on the Street regarding Pombiliti plus Opfolda meeting 2024 Street estimates, but it believes full-year sales estimates are getting into the range as “very much achievable.”