Why Are Amicus, Immunocore, & Immuneering Stocks Trading Lower On Friday?
Morgan Stanley downgraded Amicus Therapeutics Inc (NASDAQ:FOLD). Over the last year, the company has executed well commercially, met its goals financially by achieving nonGAAP profitability for 2024, and settled its Galafold patent litigation with Teva Pharmaceutical Industries Ltd.
The analyst notes that Amicus is well-positioned, but expectations have increased with the company’s progress, which are now largely priced into shares.
The analyst downgraded the stock to Equal-weight from Overweight and lowered the price target from $17 to $12.
Investors have shifted focus to what will provide the company’s next leg of growth. The analyst would look to see potential updates to the company’s pipeline in 2025 and beyond, as those programs have the greatest potential to unlock further value for Amicus stock.
Morgan Stanley has also lowered the price target for Immunocore Holdings plc …
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