Is Amicus Therapeutics Stock Still a Strong Buy?

According to data from S&P Global Market Intelligence, shares of rare-disease drugmaker Amicus Therapeutics (NASDAQ: FOLD) rose by 6.6% last month. Although the company did provide a bevy of clinical and business updates during its second-quarter earnings call early in the month, and even though it announced the approval of its Fabry disease treatment, Galafold (migalastat), in Australia toward the latter part of August, the real catalyst behind this move higher appears to be the industrywide surge in biotech valuations that's continued unabated since President Trump's inauguration. Amicus's shares, after all, closely tracked the iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) march higher in August: