Jefferies Downgrades Amicus Therapeutics, Inc. (FOLD) to Buy And Lowers Price Target Amid Takeover Developments

We recently compiled a list of the 20 Best Biotech Stocks Under $20 to Buy Now. Amicus Therapeutics, Inc. tops our list for being one of the best biotech stocks.

TheFly reported on January 22 that Jefferies downgraded FOLD to Buy from Hold and lowered the price target to $14.50 from $16. The company got substantial pharmaceutical takeover interest outside of BioMarin, according to proxy records, but Jefferies does not expect any more proposals.

Separately, last month on December 19, BioMarin announced that it will acquire Amicus Therapeutics, Inc. (NASDAQ:FOLD) for $14.50 per share in an all-cash transaction, valuing the company at approximately $4.8 billion. The acquisition adds two marketed therapies that are Galafold for Fabry disease and Pombiliti + Opfolda for Pompe disease, which generated $599 million in combined revenue over the past four quarters.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) is a biotechnology company that us focused on developing and commercializing innovative treatments for rare and orphan diseases. Its pipeline includes therapies for genetic and metabolic disorders, such as Fabry disease, leveraging precision science and patient‑centric solutions to improve long‑term health outcomes.

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Disclosure: None.