Is Amicus Therapeutics Headed for a Breakout? By StockNews

Is Amicus Therapeutics Headed for a Breakout?

Stock Markets Nov 03, 2021 10:31AM ET

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Is Amicus Therapeutics Headed for a Breakout?

A resistance line and an ascending support line has formed in the chart of Amicus Therapeutics Inc. (NASDAQ:FOLD). If the stock breaks through this resistance level, a breakout is expected. Read more to learn how to take advantage of this trading setup.Amicus Therapeutics Inc. (FOLD) is a biotechnology company focused on discovering, developing, and delivering medicines for people living with rare metabolic diseases. It has a portfolio of opportunities, including oral precision medicine for people living with Fabry disease, a clinical-stage treatment paradigm for Pompe disease, and a rare disease gene therapy portfolio.

The company’s Galafold therapy received label expansion in the EU over the summer. This is expected to increase sales. Plus, its lead pipeline drug, AT-GAA, is being evaluated for Pompe disease. The FDA is expected to make a decision on AT-GAA some time next year. If approved, the drug has a lot of potential for growth.

FOLD has a current ratio of 4.3, indicating it has more than enough liquidity to handle short-term obligations. Over the past three years, sales have grown an average of 165.6% per year and revenues are expected to rise 37.2% over the next year leading to a Growth Grade of B in our POWR Ratings system.

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