Amicus Therapeutics stock hits 52-week low at $8.78

In a challenging year for Amicus Therapeutics (NASDAQ:FOLD), the biotechnology company’s stock has reached a 52-week low, trading at $8.78. Despite the current market sentiment, InvestingPro analysis reveals impressive fundamentals, including a robust gross profit margin of 90% and strong revenue growth of 32% over the last twelve months. This latest price level reflects a significant downturn from the previous year, with the stock experiencing a 1-year change of -26.96%. Investors are closely monitoring the company’s performance, as this new low point could signal both a potential concern for long-term stability and an opportunity for those looking to buy in at a lower entry point. The market’s response to this new development will be telling of the confidence in Amicus Therapeutics’ ability to recover and grow in the competitive biotech sector. Notably, the company maintains a healthy liquidity position with a current ratio of 3.39, while analyst price targets range from $12 to $21. For deeper insights and exclusive analysis, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Amicus Therapeutics reported a significant increase in its full-year 2024 total revenue, reaching $528.3 million, a 33% rise year-over-year. Sales of their key product, Galafold, grew by 19% to $458.2 million, while Pombiliti+Opfolda contributed $70.2 million. The company anticipates its total revenue to exceed $1 billion by 2028. Despite these positive results, Morgan Stanley (NYSE:MS) downgraded Amicus Therapeutics from Overweight to Equalweight, lowering the price target to $12, citing the need for new growth drivers. BofA Securities also adjusted its price target to $14 but maintained a Buy rating, expressing confidence in the company’s future prospects. Goldman Sachs reiterated a Neutral rating with a $14 price target, highlighting Galafold’s sales performance and exclusivity. Furthermore, Amicus Therapeutics filed a prospectus supplement for stock sales, part of its at-the-market program, ensuring flexibility for future share sales. The company remains focused on expanding its market presence and achieving positive GAAP net income in the latter half of 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.