Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up After Analyst Upgrade

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares gapped up before the market opened on Thursday after Bank of America raised their price target on the stock from $13.00 to $15.00. The stock had previously closed at $10.50, but opened at $10.82. Bank of America currently has a buy rating on the stock. Amicus Therapeutics shares last traded at $11.35, with a volume of 552,969 shares changing hands.

Several other research analysts also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Amicus Therapeutics in a report on Friday, September 20th. Morgan Stanley dropped their price objective on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Jefferies Financial Group began coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.13.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,382,718.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 22,500 shares of company stock valued at $244,875 in the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Trading of Amicus Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. raised its position in Amicus Therapeutics by 5.3% in the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 936 shares during the period. American International Group Inc. raised its position in Amicus Therapeutics by 0.9% in the 4th quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock worth $2,004,000 after purchasing an additional 1,298 shares during the period. Arizona State Retirement System grew its stake in Amicus Therapeutics by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after acquiring an additional 1,577 shares in the last quarter. Diversified Trust Co grew its stake in Amicus Therapeutics by 3.8% in the 3rd quarter. Diversified Trust Co now owns 74,501 shares of the biopharmaceutical company’s stock worth $796,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Amicus Therapeutics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company’s stock worth $2,389,000 after acquiring an additional 2,737 shares in the last quarter.

Amicus Therapeutics Price Performance

The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. The firm has a market capitalization of $3.52 billion, a P/E ratio of -24.29 and a beta of 0.69. The stock’s 50 day simple moving average is $11.17 and its 200 day simple moving average is $10.56.

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

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.