Amicus Therapeutics Inc. (FOLD) Trading 7.2% Higher
Amicus Therapeutics Inc. (NASDAQ:FOLD) traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $6.79 and last traded at $6.73, with a volume of 1,372,300 shares trading hands. The stock had previously closed at $6.28.
Several equities research analysts recently issued reports on the company. Bank of America Corp. started coverage on Amicus Therapeutics in a research note on Wednesday, May 18th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Investment Research cut Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. Leerink Swann restated an “outperform” rating and set a $17.00 target price on shares of Amicus Therapeutics in a research note on Wednesday, June 1st. Finally, Chardan Capital set a $15.00 target price on Amicus Therapeutics and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Amicus Therapeutics has an average rating of “Buy” and an average price target of $12.19.
The stock’s market capitalization is $881.72 million. The company’s 50-day moving average price is $6.15 and its 200 day moving average price is $6.81.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.07. On average, equities analysts predict that Amicus Therapeutics Inc. will post ($1.32) earnings per share for the current fiscal year.
In related news, insider Jay Barth sold 20,916 shares of Amicus Therapeutics stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $7.00, for a total value of $146,412.00. Following the sale, the insider now owns 25,458 shares of the company’s stock, valued at approximately $178,206. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ellen Rosenberg purchased 15,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was bought at an average cost of $7.67 per share, for a total transaction of $115,050.00. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in Amicus Therapeutics by 3.3% in the fourth quarter. Jennison Associates LLC now owns 4,123,955 shares of the biopharmaceutical company’s stock worth $40,002,000 after buying an additional 133,138 shares in the last quarter. RS Investment Management Co. LLC raised its position in Amicus Therapeutics by 22.0% in the fourth quarter. RS Investment Management Co. LLC now owns 3,488,863 shares of the biopharmaceutical company’s stock worth $33,842,000 after buying an additional 628,438 shares in the last quarter. California Public Employees Retirement System raised its position in Amicus Therapeutics by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 326,100 shares of the biopharmaceutical company’s stock worth $3,163,000 after buying an additional 11,600 shares in the last quarter. Swiss National Bank raised its position in Amicus Therapeutics by 3.8% in the fourth quarter. Swiss National Bank now owns 140,200 shares of the biopharmaceutical company’s stock worth $1,360,000 after buying an additional 5,100 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Amicus Therapeutics by 1.7% in the fourth quarter. Nationwide Fund Advisors now owns 105,597 shares of the biopharmaceutical company’s stock worth $1,024,000 after buying an additional 1,754 shares in the last quarter.
Amicus Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of therapies to treat a range of rare and orphan diseases. Its lead product candidate, migalastat HCl (Galafold), is an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease, which is a type of lysosomal storage disorder (LSD).
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