Today's Research Reports on Biotech Stocks to Watch: Amicus Therapeutics and Sarepta Therapeutics
NEW YORK, NY / ACCESSWIRE / March 17, 2017 / There has been significant interest in both companies by investment rating firms and individual investors over the past quarter. The interest is not necessarily reflective of the stocks trading volume, as the ratings have changed to indicate there is a positive trend, but that the price may be near topping out for the short term, causing investors to wait for further financials.
RDI Initiates Coverage:
Amicus Therapeutics, Inc. https://ub.rdinvesting.com/news/?ticker=FOLD
Sarepta Therapeutics Inc. https://ub.rdinvesting.com/news/?ticker=SRPT
Amicus stock started the Thursday trading day with positive gain, rising to $7.28 a share, then fell back and was on a downward trend by the end of the day, down 24 cents to $6.95, then had a late day rally to close at $7.12 cutting its day losses in half. The stock drop came in part from a general decline in the market, yet Zacks Investment Research upgraded is recommendation from "sell" to "hold." Amicus has had a number of investment firms, including JP Morgan Chase, confirming or raising their rating of the company from a "hold" to a "buy" during the early months of 2017, with consensus rating as "outperform". The company specializes in the development of treatments for patients with rare diseases. Its current lead candidate for Fabry disease is that the company hopes to be able to treat with its enzyme replacement therapy drug., migalastat HCl. Migalastat HCI is already approved in Europe under the trade name "Galafold" and has generated nearly $5 million of sales in the year 2016 mainly from its launch in Germany and the company hopes to launch it in US by 2020 and its competitors are "Relagel" of Shire and "Fabrazyme" of Sanofi, with the later having US FDA approval. For the Current quarter, Amicus has launched "Galafold" in U.K. and Italy. Another candidate currently in FDA Phase 2 stage is SD-101, topical treatment with the potential of first-to-market therapy to treat the rare and genetic disorder with skin blistering and lesions, Epidermolysis Bullosa ("EB"). Amicus has reported a net loss of $200 million or $1.49 a share for year 2016 as compared to net loss of $132.1 million or $1.20 a share reported in year 2015, and has started generating revenue from third quarter of 2016 with total of $5 million revenue for year 2016.
Access RDI's Amicus Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=FOLD
On Thursday, Sarepta's closing price of $31.63 $30.35 was nearly 6 percent lower than its Monday opening of $32.21 per share. The company's rating has recently raised by Vetr Inc. from "buy" to "strong buy." Oppenheimer Holdings reiterated its "outperform" rating on February 28th. Number of "buy" recommendations currently outweighs the "sell" by a 11 to 1 ratio. Sarepta has reported a net loss of $88.5 million or $1.62 a share for the year 2016 as compared to $64.7 million or $1.44 a share loss reported for the year 2015, mainly due to $40 million of upfront payment regarding licence agreement to Summit Therapeutics. Sarepta has started generating revenue from the end of third quarter of 2016 with net revenue of $5.4 million for the year 2016 from the shipments of EXONDYS 51. Cash, Cash equivalents and short term investment is standing at $329.3 million as of December 31, 2016 and during the current quarter Sarepta has agreed to sale priority review voucher for $125 million. There appears to be more upside to the stock based on the recommendations and future prospect, but Thursday's close seems to be a setback.
Access RDI's Sarepta Therapeutics Research Report at: https://ub.rdinvesting.com/news/?ticker=SRPT
Our Actionable Research on Amicus Therapeutics, Inc. (NASDAQ: FOLD) and Sarepta Therapeutics Inc. (NASDAQ: SRPT) can be downloaded free of charge at Research Driven Investing.
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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
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SOURCE: RDInvesting.com
