FOLD - Fold gets back overweight rating from Cantor; says Pompe disease candidate given 'zero credit'

Amicus Therapeutics ([[FOLD]] +8.4%) is sharply higher today after Cantor Fitzgerald upgraded the stock to overweight from neutral with the unchanged price target at $17.00 per share implying ~82.6% upside to the previous close.The company has lost ~51% since it announced the Phase 3 top-line data for the two-component experimental therapy, AT-GAA in late-onset Pompe disease, the analyst Kristen Kluska notes.Arguing that the Amicus is ‘only receiving credit for the Fabry disease and gene therapy pipeline,’ Kluska sees ‘zero credit’ attributed to AT-GAA at the current level of valuation.With a statistically significant benefit in the ERT naïve arm, ‘we don’t believe the therapy will never reach the market,’ the analyst wrote.However, Kluska recognizes that the study did not reach the primary endpoint in the ERT arm (enzyme replacement therapy) of standard care (alglucosidase alfa).The day after the announcement of Phase 3 data in February, Kluska lowered the recommendation for Amicus to neutral

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Fold gets back overweight rating from Cantor; says Pompe disease candidate given ‘zero credit’