Amicus Therapeutics (NASDAQ:FOLD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other equities analysts have also commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Amicus Therapeutics in a research note on Friday, September 20th. Jefferies Financial Group started coverage on Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective on the stock. Morgan Stanley reduced their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Bank of America boosted their price objective on Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Amicus Therapeutics Stock Performance

Shares of NASDAQ:FOLD opened at $11.69 on Wednesday. The business’s fifty day moving average price is $11.19 and its two-hundred day moving average price is $10.56. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -29.97 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The firm had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The business’s revenue was up 34.0% compared to the same quarter last year. As a group, analysts predict that Amicus Therapeutics will post -0.06 EPS for the current fiscal year.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $10.34, for a total transaction of $77,550.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at $9,168,002.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 22,500 shares of company stock valued at $244,875 over the last 90 days. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently added to or reduced their stakes in FOLD. Blue Trust Inc. lifted its stake in Amicus Therapeutics by 1,705.4% in the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 2,831 shares during the period. Headlands Technologies LLC acquired a new position in Amicus Therapeutics in the second quarter valued at about $89,000. Sage Capital Advisors llc acquired a new position in Amicus Therapeutics in the second quarter valued at about $103,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Amicus Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,727 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 1,884 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Amicus Therapeutics in the second quarter valued at about $138,000.

Amicus Therapeutics Company Profile

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.