Amicus Therapeutics (NASDAQ:FOLD) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a buy rating in a research report report published on Wednesday morning.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley decreased their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Bank of America lifted their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Amicus Therapeutics in a research report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Finally, Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research report on Friday, September 6th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Amicus Therapeutics Stock Down 4.0 %

FOLD stock opened at $11.40 on Wednesday. The company has a market cap of $3.38 billion, a PE ratio of -23.27 and a beta of 0.69. The business has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $10.56. Amicus Therapeutics has a 52 week low of $9.02 and a 52 week high of $14.57. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. Amicus Therapeutics’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Sell-side analysts anticipate that Amicus Therapeutics will post -0.07 EPS for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total transaction of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 22,500 shares of company stock worth $244,875. Insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 2,831 shares during the last quarter. Headlands Technologies LLC bought a new stake in Amicus Therapeutics in the second quarter valued at approximately $89,000. Sage Capital Advisors llc bought a new stake in Amicus Therapeutics in the second quarter valued at approximately $103,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Amicus Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 1,884 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Amicus Therapeutics in the second quarter valued at approximately $138,000.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.