Short Interest in Amicus Therapeutics, Inc. (NASDAQ:FOLD) Decreases By 6.5%

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 25,800,000 shares, a drop of 6.5% from the May 31st total of 27,590,000 shares. Based on an average daily volume of 2,560,000 shares, the short-interest ratio is presently 10.1 days.

Analysts Set New Price Targets

A number of analysts have weighed in on FOLD shares. Guggenheim raised shares of Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, May 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Friday, May 10th. Wells Fargo & Company assumed coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target on the stock. Morgan Stanley lowered their price objective on Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, Bank of America cut their target price on shares of Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total value of $75,525.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $8,928,605.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in FOLD. Van ECK Associates Corp increased its holdings in Amicus Therapeutics by 23.1% in the fourth quarter. Van ECK Associates Corp now owns 4,657 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 873 shares in the last quarter. Calton & Associates Inc. acquired a new position in shares of Amicus Therapeutics during the 4th quarter valued at $142,000. EntryPoint Capital LLC boosted its stake in Amicus Therapeutics by 278.8% during the first 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 in the last quarter. Old Well Partners LLC acquired a new stake in Amicus Therapeutics in the fourth quarter worth $180,000. Finally, O Shaughnessy Asset Management LLC increased its stake in Amicus Therapeutics by 25.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 15,243 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 3,082 shares in the last quarter.

Amicus Therapeutics Trading Down 0.4 %

FOLD stock traded down $0.04 during trading on Wednesday, hitting $9.81. The company had a trading volume of 511,076 shares, compared to its average volume of 2,836,019. The stock has a market cap of $2.91 billion, a PE ratio of -20.02 and a beta of 0.71. The business has a 50-day moving average of $9.93 and a 200-day moving average of $11.64. 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 one year low of $9.02 and a one year high of $14.57.

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

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.