Amicus Therapeutics, Inc. (NASDAQ:FOLD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Amicus Therapeutics, Inc. (NASDAQ:FOLD) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.57.

FOLD has been the subject of several analyst reports. Bank of America lowered their price target on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, May 10th. Morgan Stanley lowered their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Wells Fargo & Company assumed coverage on shares of Amicus Therapeutics in a report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target for the company. Finally, Guggenheim upgraded shares of Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, May 14th.

Amicus Therapeutics Price Performance

Shares of FOLD opened at $10.18 on Wednesday. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The firm’s 50 day moving average price is $10.08 and its 200 day moving average price is $11.23. The company has a market cap of $3.02 billion, a P/E ratio of -20.78 and a beta of 0.71. The company has a quick ratio of 2.61, a current ratio of 3.03 and a debt-to-equity ratio of 2.97.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. Amicus Therapeutics had a negative net margin of 34.73% and a negative return on equity of 77.08%. The company had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $111.19 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The firm’s revenue was up 27.9% on a year-over-year basis. On average, research analysts forecast that Amicus Therapeutics will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 6,100 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,866,540. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,928,605.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 6,100 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $8,866,540. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Amicus Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock worth $404,308,000 after buying an additional 1,360,613 shares during the last quarter. Perceptive Advisors LLC raised its position in Amicus Therapeutics by 1.3% during the 4th quarter. Perceptive Advisors LLC now owns 28,057,456 shares of the biopharmaceutical company’s stock worth $398,135,000 after buying an additional 364,539 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Amicus Therapeutics by 101.9% in the 4th quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock valued at $215,546,000 after purchasing an additional 7,666,335 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Amicus Therapeutics by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock valued at $162,713,000 after purchasing an additional 2,307,385 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Amicus Therapeutics in the 4th quarter valued at about $35,915,000.

About Amicus Therapeutics

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.