Figma Shares Indicated To Open $105/$110
In a challenging year for biotechnology firms, Amicus Therapeutics , Inc. (NASDAQ:FOLD) stock has touched a 52-week low, dipping to $8.09, despite impressive revenue growth of 32% and industry-leading gross profit margins of 90%. The company, known for its advanced therapies in the treatment of rare metabolic diseases, has seen its shares retreat significantly from higher levels over the past year. This downturn reflects a broader trend in the sector, with Amicus Therapeutics experiencing a 1-year change decrease of -28.63%. InvestingPro analysis suggests the stock is currently undervalued, with analysts setting price targets between $12 and $21. Investors are closely monitoring the company’s performance, as well as potential catalysts that may influence its stock price in the coming months. For deeper insights into Amicus Therapeutics’ valuation and growth prospects, access the comprehensive Pro Research Report available exclusively on InvestingPro, along with 10+ additional ProTips.
In other recent news, Amicus Therapeutics reported a 33% increase in total revenue for 2024, reaching $528.3 million. The company’s key product, Galafold, contributed $458.2 million, marking a 19% growth, while Pombiliti+Opfolda added $70.2 million to the revenue. Goldman Sachs maintained a Neutral rating with a $14 price target, noting that revenue figures aligned with expectations and highlighting Galafold’s extended exclusivity. BofA Securities also adjusted its price target to $14, retaining a Buy rating, reflecting confidence in the company’s growth prospects. Additionally, Amicus Therapeutics filed a prospectus supplement related to its at-the-market stock sales program, allowing flexibility for future share sales. The company projects Galafold sales to grow by 10%-15% in 2025 and Pombiliti+Opfolda revenue to increase by 65%-85%, albeit below some analyst expectations. Amicus is also optimistic about achieving positive GAAP net income in the second half of 2024, a sentiment echoed by Jefferies, which maintains a Buy rating with an $18 price target. These developments indicate a strategic focus on expanding commercial opportunities and managing operational expenses effectively.
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