Amicus Therapeutics, Inc. (FOLD) Sees Strong Trading Volume
Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw an uptick in trading volume on Wednesday . 11,511,538 shares were traded during mid-day trading, an increase of 213% from the previous session’s volume of 3,683,640 shares.The stock last traded at $13.52 and had previously closed at $13.28.
A number of research firms have issued reports on FOLD. BidaskClub cut Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Chardan Capital increased their target price on Amicus Therapeutics from $12.50 to $17.50 and gave the stock a “buy” rating in a report on Thursday, August 10th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of Amicus Therapeutics in a report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and set a $18.00 target price (up previously from $16.00) on shares of Amicus Therapeutics in a report on Thursday. Finally, Robert W. Baird increased their target price on Amicus Therapeutics from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.75.
The firm’s 50-day moving average is $13.18 and its 200 day moving average is $9.72. The company’s market capitalization is $2.21 billion.
Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. During the same quarter in the prior year, the business earned ($0.40) earnings per share. On average, equities analysts expect that Amicus Therapeutics, Inc. will post ($1.37) earnings per share for the current fiscal year.
In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was bought at an average cost of $12.25 per share, with a total value of $18,375,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jay Barth sold 30,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $10.00, for a total transaction of $300,000.00. Following the sale, the insider now directly owns 64,184 shares of the company’s stock, valued at $641,840. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of Amicus Therapeutics by 3.4% during the second quarter. FMR LLC now owns 21,437,508 shares of the biopharmaceutical company’s stock worth $215,876,000 after acquiring an additional 705,153 shares in the last quarter. Redmile Group LLC increased its position in shares of Amicus Therapeutics by 5.9% during the second quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock worth $121,282,000 after acquiring an additional 668,080 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Amicus Therapeutics by 5.0% during the second quarter. Vanguard Group Inc. now owns 9,118,246 shares of the biopharmaceutical company’s stock worth $91,821,000 after acquiring an additional 430,486 shares in the last quarter. Palo Alto Investors LLC increased its position in shares of Amicus Therapeutics by 0.7% during the second quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock worth $79,964,000 after acquiring an additional 57,800 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Amicus Therapeutics by 3.6% during the first quarter. Janus Capital Management LLC now owns 7,136,697 shares of the biopharmaceutical company’s stock worth $50,883,000 after acquiring an additional 244,906 shares in the last quarter.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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