Amicus Therapeutics, Inc. (NASDAQ:FOLD) Short Interest Down 6.5% in June

Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a large drop in short interest in 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 days-to-cover ratio is presently 10.1 days.

Wall Street Analysts Forecast Growth

FOLD has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, May 10th. Wells Fargo & Company started coverage on shares of Amicus Therapeutics in a research note on Thursday, May 30th. They set an “overweight” rating and a $18.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. UBS Group reduced their price objective on Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Guggenheim raised Amicus Therapeutics from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Amicus Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $17.57.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $10.07, for a total transaction of $75,525.00. Following the sale, the chief executive officer now owns 886,654 shares in the company, valued at $8,928,605.78. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of Amicus Therapeutics by 101.9% during the fourth quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock valued at $215,546,000 after purchasing an additional 7,666,335 shares in the last quarter. Norges Bank bought a new stake in Amicus Therapeutics in the 4th quarter worth approximately $35,915,000. Blackstone Inc. purchased a new stake in shares of Amicus Therapeutics during the 4th quarter worth approximately $35,008,000. Janus Henderson Group PLC boosted its position in shares of Amicus Therapeutics by 20.1% during 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 acquiring an additional 2,307,385 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew 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 valued at $25,640,000 after purchasing an additional 1,858,100 shares in the last quarter.

Amicus Therapeutics Stock Performance

Shares of NASDAQ:FOLD traded down $0.04 during mid-day trading on Wednesday, reaching $9.81. 511,076 shares of the company traded hands, compared to its average volume of 2,836,019. Amicus Therapeutics has a 52 week low of $9.02 and a 52 week high of $14.57. The firm has a market cap of $2.91 billion, a PE ratio of -20.02 and a beta of 0.71. The company’s 50 day moving average price is $9.93 and its 200-day moving average price is $11.64. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.03 and a quick ratio of 2.61.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The firm had revenue of $110.40 million for the quarter, compared to the consensus estimate 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 revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm earned ($0.18) EPS. On average, equities analysts expect that Amicus Therapeutics will post -0.12 EPS for the current fiscal year.

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.