Amicus Therapeutics, Inc. (NASDAQ:FOLD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.57.

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, May 10th. Bank of America reduced their price objective on Amicus Therapeutics from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Wells Fargo & Company initiated coverage on Amicus Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price objective on the stock. Morgan Stanley reduced their price objective on Amicus Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, UBS Group reduced their price objective on Amicus Therapeutics from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, May 10th.

Amicus Therapeutics Price Performance

Shares of NASDAQ FOLD opened at $10.08 on Wednesday. The firm has a market capitalization of $2.99 billion, a P/E ratio of -20.57 and a beta of 0.71. The company has a quick ratio of 2.61, a current ratio of 3.03 and a debt-to-equity ratio of 2.97. The stock’s 50-day simple moving average is $10.09 and its two-hundred day simple moving average is $11.18. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 6,100 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $10.00, for a total value of $61,000.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,866,540. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Peregrine Capital Management LLC lifted its holdings in Amicus Therapeutics by 10.8% in the 2nd quarter. Peregrine Capital Management LLC now owns 812,938 shares of the biopharmaceutical company’s stock worth $8,064,000 after buying an additional 79,389 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Amicus Therapeutics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company’s stock valued at $2,389,000 after purchasing an additional 2,737 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Amicus Therapeutics by 6.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,471 shares of the biopharmaceutical company’s stock valued at $501,000 after purchasing an additional 2,918 shares during the period. Legato Capital Management LLC lifted its stake in shares of Amicus Therapeutics by 864.0% in the 2nd quarter. Legato Capital Management LLC now owns 101,703 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 91,153 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Amicus Therapeutics by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,245,115 shares of the biopharmaceutical company’s stock valued at $12,352,000 after purchasing an additional 82,065 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.