Cantor Fitzgerald Reiterates “Overweight” Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They presently have a $20.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 77.15% from the company’s current price.

Several other analysts have also issued reports on FOLD. Wells Fargo & Company assumed coverage on shares of Amicus Therapeutics in a research report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Amicus Therapeutics Price Performance

Shares of NASDAQ FOLD opened at $11.29 on Friday. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The stock’s 50 day moving average price is $11.04 and its 200-day moving average price is $10.71. The company has a market capitalization of $3.34 billion, a PE ratio of -23.04 and a beta of 0.69. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities analysts anticipate that Amicus Therapeutics will post -0.08 EPS for the current year.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 6,100 shares of Amicus Therapeutics stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $10.00, for a total transaction of $61,000.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $8,866,540. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $10,382,718.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bradley L. Campbell sold 6,100 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction 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. Insiders have sold 21,100 shares of company stock valued at $226,375 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in FOLD. Headlands Technologies LLC acquired a new stake in Amicus Therapeutics in the 2nd quarter valued at about $89,000. Sage Capital Advisors llc purchased a new position in Amicus Therapeutics in the second quarter valued at approximately $103,000. Sanctuary Advisors LLC acquired a new stake in Amicus Therapeutics in the second quarter valued at approximately $138,000. EntryPoint Capital LLC grew its position in Amicus Therapeutics by 278.8% in the first quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 9,729 shares in the last quarter. Finally, Old Well Partners LLC acquired a new stake in shares of Amicus Therapeutics during the fourth quarter worth approximately $180,000.

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.