Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up – Here’s Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $10.82. Amicus Therapeutics shares last traded at $11.35, with a volume of 552,969 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on FOLD shares. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. Morgan Stanley lowered their price target on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. StockNews.com cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their target price on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $16.88.

Amicus Therapeutics Price Performance

The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -23.16 and a beta of 0.69. The stock has a 50-day moving average of $11.15 and a two-hundred day moving average of $10.55.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 22,500 shares of company stock worth $244,875. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Amicus Therapeutics during the 2nd quarter worth about $89,000. Sage Capital Advisors llc purchased a new stake in shares of Amicus Therapeutics during the 2nd quarter worth about $103,000. EntryPoint Capital LLC raised its stake in shares of Amicus Therapeutics by 278.8% during the 1st quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 9,729 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Amicus Therapeutics during the 2nd quarter worth about $138,000. Finally, nVerses Capital LLC purchased a new stake in shares of Amicus Therapeutics during the 3rd quarter worth about $187,000.

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.