Amicus Therapeutics (NASDAQ:FOLD) Price Target Raised to $15.00 at Bank of America

Amicus Therapeutics (NASDAQ:FOLD) had its target price lifted by Bank of America from $13.00 to $15.00 in a research note published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

FOLD has been the subject of several other reports. Morgan Stanley cut their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. StockNews.com downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Amicus Therapeutics in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.13.

Amicus Therapeutics Price Performance

FOLD stock opened at $11.90 on Thursday. The firm has a 50 day moving average of $11.17 and a 200-day moving average of $10.56. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57. 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 company has a market cap of $3.52 billion, a price-to-earnings ratio of -24.29 and a beta of 0.69.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total value of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 22,500 shares of company stock valued at $244,875. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. grew its stake in shares of Amicus Therapeutics by 5.3% during the 2nd quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 936 shares during the period. American International Group Inc. grew its stake in shares of Amicus Therapeutics by 0.9% during the 4th quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock valued at $2,004,000 after buying an additional 1,298 shares during the period. Arizona State Retirement System grew its stake in shares of Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock valued at $615,000 after buying an additional 1,577 shares during the period. Diversified Trust Co boosted its position in Amicus Therapeutics by 3.8% during the 3rd quarter. Diversified Trust Co now owns 74,501 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 2,698 shares during the period. Finally, Principal Financial Group Inc. increased its holdings 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 valued at $2,389,000 after purchasing an additional 2,737 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.