Amicus Therapeutics (NASDAQ:FOLD) Given New $15.00 Price Target at Guggenheim

Amicus Therapeutics (NASDAQ:FOLD) had its price target raised by equities researchers at Guggenheim from $13.00 to $15.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price target suggests a potential upside of 37.36% from the company’s current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their target price on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. 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 target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research report on Thursday. Cantor Fitzgerald increased their price objective on Amicus Therapeutics from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Finally, StockNews.com lowered Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Amicus Therapeutics Price Performance

Shares of FOLD stock traded down $0.32 during mid-day trading on Thursday, hitting $10.92. The company had a trading volume of 2,648,803 shares, compared to its average volume of 2,723,998. Amicus Therapeutics has a 52-week low of $9.02 and a 52-week high of $14.57. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26. The stock’s 50 day moving average price is $11.15 and its 200-day moving average price is $10.61. The company has a market capitalization of $3.24 billion, a P/E ratio of -27.95 and a beta of 0.68.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. During the same quarter last year, the firm posted ($0.15) EPS. The firm’s revenue was up 34.0% compared to the same quarter last year. Equities research analysts forecast that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the transaction, the chief executive officer now owns 886,654 shares in the company, valued at $9,398,532.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 22,500 shares of company stock valued at $253,275 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in Amicus Therapeutics by 20.1% in the first 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 period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Amicus Therapeutics by 583.4% during the 1st 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 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 2nd 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 last quarter. William Blair Investment Management LLC boosted its stake in shares of Amicus Therapeutics by 12.8% during the second quarter. William Blair Investment Management LLC now owns 13,003,363 shares of the biopharmaceutical company’s stock valued at $128,993,000 after acquiring an additional 1,477,084 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Amicus Therapeutics by 141.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,037,896 shares of the biopharmaceutical company’s stock valued at $21,765,000 after acquiring an additional 1,192,489 shares during the last quarter.

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.