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

Amicus Therapeutics, Inc. (NASDAQ:FOLD) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.88.

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective for the company. Morgan Stanley decreased 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. JPMorgan Chase & Co. lowered their price objective on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD opened at $10.50 on Monday. The company has a 50-day moving average price of $11.11 and a two-hundred day moving average price of $10.57. Amicus Therapeutics has a twelve month low of $9.02 and a twelve month high of $14.57. The company has a quick ratio of 2.26, a current ratio of 2.75 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $3.11 billion, a PE ratio of -21.43 and a beta of 0.69.

Amicus Therapeutics (NASDAQ:FOLD) last posted 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). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. Equities analysts forecast that Amicus Therapeutics will post -0.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $10,382,718.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 22,500 shares of company stock worth $244,875. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Amicus Therapeutics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock valued at $404,308,000 after buying an additional 1,360,613 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Amicus Therapeutics in the second quarter worth about $8,386,000. M&G Plc increased its stake in shares of Amicus Therapeutics by 12.4% during the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after purchasing an additional 82,728 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Amicus Therapeutics during the fourth quarter valued at approximately $1,178,000. Finally, Blackstone Inc. bought a new stake in shares of Amicus Therapeutics in the 4th quarter worth approximately $35,008,000.

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.