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Fly News Breaks for June 14, 2016
PLX, FOLD
Jun 14, 2016 | 07:38 EDT
Leerink analyst Joseph Schwartz is "incrementally encouraged" by the news that Protalix (PLX) reached an agreement with the FDA to advance its Fabry ERT into a pivotal trial, just before Amicus' (FOLD) meeting with the agency to discuss a regulatory path for its Galafold. Amicus was poised to emphasize non-renal data in the upcoming FDA meeting, but now the company has "another way to win" by using renal data, the analyst tells investors in a research note. Schwartz now assigns a 33% probability for Galafold. The analyst reiterates an Outperform rating on Amicus' stock and raised his price target on the shares to $19 from $17.
News For FOLD;PLX From the Last 2 Days
FOLD
Mar 18, 2024 | 07:13 EDT
JPMorgan analyst Anupam Rama lowered the firm's price target on Amicus to $19 from $21 and keeps an Overweight rating on the shares. The analyst does not believe the shares currently reflect the near- or long-term potential of Pombiliti plus Opfolda. Launch progress with the product has the potential to grind Amicus shares to the mid- to high-teens levels, the analyst tells investors in a research note. The firm senses there are concerns on the Street regarding Pombiliti plus Opfolda meeting 2024 Street estimates, but it believes full-year sales estimates are getting into the range as "very much achievable."