StockNews.com Upgrades Amicus Therapeutics (NASDAQ:FOLD) to Buy

Amicus Therapeutics (NASDAQ:FOLD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

FOLD has been the topic of several other reports. Bank of America increased their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Morgan Stanley cut their price target 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. decreased their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Jefferies Financial Group started coverage on Amicus Therapeutics in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Amicus Therapeutics Trading Up 3.2 %

FOLD stock opened at $11.76 on Wednesday. The business has a fifty day moving average price of $11.18 and a 200 day moving average price of $10.57. 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 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 $3.48 billion, a price-to-earnings ratio of -24.00 and a beta of 0.69.

Amicus Therapeutics (NASDAQ:FOLD) last announced its 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). The company had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period last year, the company posted ($0.15) earnings per share. Analysts expect that Amicus Therapeutics will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $9,168,002.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 22,500 shares of company stock worth $244,875. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of FOLD. Janus Henderson Group PLC increased its position in shares of Amicus Therapeutics by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 13,814,514 shares of the biopharmaceutical company’s stock valued at $162,713,000 after buying an additional 2,307,385 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Amicus Therapeutics by 583.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,176,600 shares of the biopharmaceutical company’s stock worth $25,640,000 after acquiring an additional 1,858,100 shares in the last quarter. Millennium Management LLC raised its position in shares of Amicus Therapeutics by 1,758.9% during the second quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock worth $18,790,000 after purchasing an additional 1,792,277 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Amicus Therapeutics by 12.8% during the 2nd quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock valued at $128,993,000 after purchasing an additional 1,477,084 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Amicus Therapeutics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after purchasing an additional 1,360,613 shares during the period.

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.