Why Amicus Therapeutics Stock Is Soaring Today
Shares of Amicus Therapeutics (NASDAQ: FOLD) were soaring 9.7% higher at 12:07 p.m. EDT on Wednesday. The big gain came after Cantor Fitzgerald analyst Kristen Kluska upgraded Amicus stock to overweight from neutral.
It's best to take analysts' ratings with a grain of salt. However, understanding the reason behind their optimism about a given stock can be helpful.
In this case, Cantor Fitzgerald's Kluska likes the prospects for Amicus because she thinks the company's gene therapy candidates are promising based on recent clinical updates. That's a pretty good reason to upgrade the biotech stock.
Source Fool.com
