Brokerages Set Amicus Therapeutics, Inc. (NASDAQ:FOLD) Price Target at $17.57

Amicus Therapeutics, Inc. (NASDAQ:FOLD) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.57.

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

Amicus Therapeutics Stock Down 1.2 %

FOLD stock opened at $9.80 on Friday. The stock’s fifty day simple moving average is $9.96 and its two-hundred day simple moving average is $11.68. The company has a current ratio of 3.03, a quick ratio of 2.61 and a debt-to-equity ratio of 2.97. Amicus Therapeutics has a 1-year low of $9.02 and a 1-year high of $14.57. The stock has a market cap of $2.90 billion, a P/E ratio of -20.00 and a beta of 0.71.

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

Insider Activity at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $8,928,605.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in 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 worth $162,713,000 after acquiring an additional 2,307,385 shares during the last quarter. Bayesian Capital Management LP bought a new position in Amicus Therapeutics in the 1st quarter worth about $591,000. Silvercrest Asset Management Group LLC increased its stake in Amicus Therapeutics by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 374,958 shares of the biopharmaceutical company’s stock worth $4,417,000 after acquiring an additional 16,033 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Amicus Therapeutics by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,389,361 shares of the biopharmaceutical company’s stock worth $16,368,000 after acquiring an additional 12,003 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in Amicus Therapeutics by 278.8% in the 1st quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock worth $156,000 after acquiring an additional 9,729 shares during the last quarter.

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.