Analyst picks & changes

Company

Bank

Analyst

Coverage

Opinion

Wk chg

7/11 cls

Amicus Therapeutics Inc. (NASDAQ:FOLD)

Janney Capital Markets

Kimberly Lee

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Buy (from hold)

-1%

$3.96

Leerink Partners

Joseph Schwartz

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Outperform (from market perform)

Lee also raised her target to $5 from $2.50 after Amicus provided an update for the Phase III ATTRACT (Study 012) trial comparing Amigal migalastat to enzyme replacement therapy in Fabry's disease. ATTRACT completed the 18-month treatment period and Amicus reiterated a 3Q14 data readout. Lee noted the majority of patients enrolled had amenable genetic mutations as determined by a good laboratory practice (GLP)-validated human embryonic kidney (HEK) in vitro assay, which she believes increase the chance of success. Additionally, the majority of patients in both arms elected to receive Amigal in an extension phase. Amigal is a small molecule that enhances alpha galactosidase A activity. Amicus was up 33% for the week ended July 3, when Lee issued her report.