FOLD

Amicus Therapeutics Inc

Healthcare


Presented:10/30/2017
Price:$13.87
Cap:$1.98B
Current Price:$10.31
Cap:$3.06B

Presented

Date10/30/2017
Price$13.87
Market Cap$1.98B
Ent Value$1.37B
P/E RatioN/A
Book Value$1.86
Div Yield0%
Shares O/S143.00M
Ave Daily Vol3,393,634
Short Int32.29%

Current

Price$10.31
Market Cap$3.06B
Amicus Therapeutics, Inc. is a biotechnology company, which is engaged in the discovery, development and commercialization of novel treatments for patients living with rare and orphan diseases. Its product include migalastat HCl, which is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy for fabry disease. The company was founded on February 4, 2002 and is headquartered in Cranbury, NJ.

Publicly traded companies mentioned herein: Amicus Therapeutics Inc (FOLD), Sanofi (SNY), Shire PLC (SHPG)

Highlights

Shares of rare disease company Amicus Therapeutics (FOLD) have performed well over the past year, rising to $16 from $6 on positive news surrounding Galafold’s global potential in treating Fabry disease, as well as its Pompe program (ATB200/AT2221). The presenter said the recent pullback on “worries about financing” have created a buying opportunity; in his opinion, the risk/reward appears to be favorable at ~$14. Looking out 2-3 years, there is meaningful upside potential for patient shareholders if i) Galafold’s launch can take share from enzyme replacement therapies (ERTs) and exceed low expectations, and ii) the Pompe development program continues on its current track. Nearer-term, Amicus should be filing a NDA for Galafold with the FDA, and based on the presenter’s model 2018 sales could be “north of $200mm” as the Fabry treatment launches globally (the consensus’ forecast is just $88mm). If/ when sell side numbers are taken up and the market starts to appreciate the potential of both assets, the stock should at least regain its lost ground. And, what is presently a ~$2.4bn market cap company could be worth $4-5bn in 24-36 months.

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Idea Discussion

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