Quick Win By The Algorithm

On June 18, 2017, the I Know First algorithm issued a bullish forecast for Amicus Therapeutics, Inc: FOLD, with a signal of 25.25 and a predictability factor of 0.38. As a result, in accordance with the prediction the company’s stock returned 46.45% within a month, showing a quick win by the algorithm.

Amicus Therapeutics, Inc. is a biotechnology company that engages in the discovery, development and commercialization of novel treatments for patients living with rare and orphan diseases. Its products include Migalastat HCl, a molecule used as a monotherapy and in combination with enzyme replacement therapy for Fabry disease. The company was founded on February 4, 2002 and is headquartered in Cranbury, NJ.

It has been a flourishing time for biotech companies as the FDA is adopting a friendlier approach towards drug approval. Amicus Therapeutics has definitely been one of the beneficiaries of this new tendency. The agency has indeed reconsidered and reversed a decision previously taken against them and since then the stock has climbed.  The FDA reversed its November decision to not allow the company’s drug ‘galafold’ an accelerated path to approval without a further trial.

The reversal means Amicus will file a NDA for this drug in the fourth quarter. If all goes as planned the product will be on the market by mid 2018, two years before projections. It will also save Amicus $100 million to $200 million for a new trial.

Current I Know First subscribers received this bullish FOLD  forecast on June 18,2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.