Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Down on Disappointing Earnings

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $9.85, but opened at $9.11. Amicus Therapeutics shares last traded at $9.97, with a volume of 359,403 shares trading hands.

The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Amicus Therapeutics had a negative return on equity of 15.97% and a negative net margin of 21.21%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FOLD shares. Guggenheim raised their target price on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Monday, January 13th. Morgan Stanley reissued an “equal weight” rating and set a $12.00 target price (down from $17.00) on shares of Amicus Therapeutics in a research note on Friday, December 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price target on shares of Amicus Therapeutics in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on Amicus Therapeutics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

Insider Activity at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.02, for a total value of $75,150.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $8,884,273.08. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. OLD Second National Bank of Aurora acquired a new position in shares of Amicus Therapeutics in the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. boosted its stake in Amicus Therapeutics by 156.9% in the third quarter. Hazlett Burt & Watson Inc. now owns 2,569 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 1,569 shares during the period. Blue Trust Inc. grew its holdings in shares of Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 2,831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Amicus Therapeutics during the 3rd quarter worth $32,000. Finally, Virtus Fund Advisers LLC bought a new stake in Amicus Therapeutics in the fourth quarter valued at $29,000.

Amicus Therapeutics Trading Up 0.8 %

The company has a debt-to-equity ratio of 2.18, a current ratio of 3.15 and a quick ratio of 2.42. The firm’s fifty day moving average price is $9.60 and its 200-day moving average price is $10.43. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -29.26, a P/E/G ratio of 1.63 and a beta of 0.61.

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.