Amicus Therapeutics (NASDAQ:FOLD) PT Lowered to $16.00 at JPMorgan Chase & Co.

Amicus Therapeutics (NASDAQ:FOLD) had its price objective lowered by JPMorgan Chase & Co. from $17.00 to $16.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on the stock. Morgan Stanley decreased their price target on shares of Amicus Therapeutics from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Guggenheim raised Amicus Therapeutics from a neutral rating to a buy rating and set a $13.00 price target for the company in a research note on Tuesday, May 14th. Wells Fargo & Company started coverage on Amicus Therapeutics in a research note on Thursday, May 30th. They issued an overweight rating and a $18.00 price objective on the stock. UBS Group decreased their price objective on Amicus Therapeutics from $20.00 to $19.00 and set a buy rating on the stock in a report 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 for the company in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $17.14.

Amicus Therapeutics Stock Performance

NASDAQ FOLD opened at $11.47 on Friday. The company has a quick ratio of 2.61, a current ratio of 3.03 and a debt-to-equity ratio of 2.97. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The business has a 50-day moving average price of $10.34 and a 200-day moving average price of $11.02. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -23.41 and a beta of 0.71.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $126.67 million during the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative return on equity of 77.08% and a negative net margin of 34.73%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. As a group, equities research analysts predict that Amicus Therapeutics will post -0.12 EPS 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 Thursday, August 1st. The stock was sold at an average price of $10.34, for a total value of $77,550.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,168,002.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $10.34, for a total value of $77,550.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,168,002.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradley L. Campbell sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $10.00, for a total value of $61,000.00. Following the transaction, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $8,866,540. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of FOLD. Van ECK Associates Corp grew its holdings in shares of 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 during the last quarter. Headlands Technologies LLC bought a new position in Amicus Therapeutics in the 2nd quarter worth about $89,000. Calton & Associates Inc. purchased a new position in shares of Amicus Therapeutics during the fourth quarter worth approximately $142,000. Sage Capital Advisors llc bought a new stake in shares of Amicus Therapeutics during the second quarter valued at approximately $103,000. Finally, Old Well Partners LLC bought a new position in Amicus Therapeutics in the fourth quarter worth approximately $180,000.

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.