Amicus Therapeutics (FOLD) Soars to 52-Week High on 'Strong Buy' Reco

We recently published 10 Big Names Leaving Wall Street in the Dust; 4 at Fresh Highs. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is one of the best performers on Friday.

Amicus jumped to a new 52-week high on Friday, as investors took heart from an investment firm’s optimistic coverage and bullish rating for its stock.

At intra-day trading, the stock climbed to its highest price of $10.85 before trimming a few cents to finish the session just up by 6.57 percent at $10.55 apiece.

In a market report, Zacks Research issued a “strong buy” recommendation for Amicus Therapeutics, Inc. (NASDAQ:FOLD), saying that there could be plenty of upside left in the stock, with the consensus price target of $15.90 implying a potential upside of 50.7 percent from its latest closing price.

Additionally, Zacks highlighted several analysts’ higher EPS targets for the stock, boosted by optimism about Amicus Therapeutics, Inc.’s (NASDAQ:FOLD) ability to report better-than-expected earnings.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) is a global biotechnology company focused on discovering, developing, and delivering novel, high-quality medicines for people living with rare diseases.

In the third quarter of the year, it swung to a net income attributable to shareholders of $17.3 million from a $6.7 million net loss in the same period last year.

Net product sales jumped by 20 percent to $169 million from $141 million year-on-year, on the back of strong revenues from Galafold and Pombiliti + Opfolda.

Galafold alone recorded $138 million in sales, higher by 15 percent than the $120.38 million in the same period last year, while Pombiliti + Opfolda sales surged by 45 percent to $30.7 million from $21 million.

While we acknowledge the potential of FOLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.