Actionable news
All posts from Actionable news
Actionable news in FOLD: Amicus Therapeutics, Inc.,

Chardan Analyst: Amicus Therapeutics Could Be Bought For $22.50/Share

Invest with Confidence. Are you a financial professional? Stay on top of your portfolio with Benzinga Pro's real-time newsfeed and alerts and never miss a headline again.
Don't miss the chance to try it FREE today.

Amicus Therapeutics, Inc. NASDAQ:FOLD, BioMarin Pharmaceutical Inc. NASDAQ:BMRN - Chardan Analyst: Amicus Therapeutics Could Be Bought For $22.50/Share

Shares of Amicus Therapeutics, Inc. FOLD 2.05% climbed 7 percent in the pre-market hours after a Wall Street analyst said the company could be bought for $22.50 a share with Sanofi SA (ADR) SNY 0.57% or Shire PLC (ADR) SHPG touted as potential acquirers.

Acquisition Possibilities And Probability

The potential acquisition price of $22.50 represents a premium of about 188 percent to Amicus' Monday closing price of $7.82.

"With Amicus Therapeutics (FOLD) having achieved the early-April positive opinion from the European Committee for Medicinal Products for Human Use (CHMP) for oral migalastat, as a first-line therapy for Fabry disease in all patients who have an amenable genetic mutation, we believe the probability of an Amicus acquisition has risen materially," Chardan analyst Gbola Amusa wrote in a note to clients.

"To us, as FOLD de-risks, the company has an increased chance of being acquired by its Fabry disease competitors, Sanofi and Shire, which are highly active in rare disease M&A markets," Amusa noted.

Amusa highlighted, "Amicus, in particular, is a potentially...