Amicus Therapeutics, Inc. (NASDAQ:FOLD) Receives $17.00 Consensus Target Price from Brokerages

Amicus Therapeutics, Inc. (NASDAQ:FOLD) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.88.

FOLD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. StockNews.com upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, October 7th. Morgan Stanley lowered their target price on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th.

Amicus Therapeutics Trading Up 4.5 %

NASDAQ FOLD opened at $10.50 on Monday. 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 business has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $10.59. Amicus Therapeutics has a 12 month low of $9.02 and a 12 month high of $14.57. The firm has a market capitalization of $3.11 billion, a P/E ratio of -21.43 and a beta of 0.69.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $121.21 million. During the same period last year, the business earned ($0.15) EPS. The business’s revenue was up 34.0% on a year-over-year basis. On average, analysts predict that Amicus Therapeutics will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics 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 transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $10,382,718.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 22,500 shares of company stock valued at $244,875 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FOLD. Wellington Management Group LLP grew its holdings in shares of Amicus Therapeutics by 101.9% during the fourth quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock worth $215,546,000 after purchasing an additional 7,666,335 shares in the last quarter. Blackstone Inc. purchased a new position in shares of Amicus Therapeutics during the fourth quarter worth about $35,008,000. Janus Henderson Group PLC grew its holdings in shares of Amicus Therapeutics by 20.1% during the first quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock worth $162,713,000 after purchasing an additional 2,307,385 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amicus Therapeutics by 583.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company’s stock worth $25,640,000 after purchasing an additional 1,858,100 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Amicus Therapeutics by 1,758.9% during the second quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock worth $18,790,000 after purchasing an additional 1,792,277 shares in 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.