Analysts Set Amicus Therapeutics, Inc. (NASDAQ:FOLD) PT at $17.00

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.88.

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. StockNews.com upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 16th.

Amicus Therapeutics Stock Up 4.5 %

NASDAQ:FOLD opened at $10.50 on Monday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. The firm has a market cap of $3.11 billion, a P/E ratio of -21.43 and a beta of 0.69. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The firm has a 50-day simple moving average of $11.11 and a two-hundred day simple moving average of $10.57.

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 the consensus estimate of ($0.05). The company had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. Analysts predict that Amicus Therapeutics will post -0.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $10,382,718.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 22,500 shares of company stock valued at $244,875 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Amicus Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after acquiring an additional 1,360,613 shares during the period. Assenagon Asset Management S.A. purchased a new position in Amicus Therapeutics during the second quarter valued at approximately $8,386,000. M&G Plc boosted its position in shares of Amicus Therapeutics by 12.4% in the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock worth $7,485,000 after purchasing an additional 82,728 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Amicus Therapeutics in the fourth quarter worth $1,178,000. Finally, Blackstone Inc. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth approximately $35,008,000.

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.