UPDATE: J.P. Morgan Upgrades Amicus Therapeutics
According to a research report published this morning, J.P. Morgan has upgraded Amicus Therapeutics (NASDAQ: FOLD) from Neutral to Overweight.
In the report, J.P. Morgan commented, "We are upgrading Amicus to Overweight from Neutral and establishing a December 2012 price target of $8. Recall, phase 3 monotherapy data for Amigal in Fabry disease are expected in 3Q12 (Study 011). We have been warming up to Amicus since the 2012 WORLD Lysosomal Disease Network meeting in February, where baseline characteristics for Study 011 were presented. Indeed, based on feedback from key opinion leaders (KOLs), prior phase 2 data, and phase 3 trial design, we believe there is a high probability of success for Study 011."
Amicus Therapeutics closed yesterday at $4.98.
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