Amicus Therapeutics, Inc. (FOLD) Given “Outperform” Rating at Leerink Swann
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “outperform” rating restated by analysts at Leerink Swann in a note issued to investors on Saturday. They presently have a $17.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $18.00. Leerink Swann’s price objective suggests a potential upside of 22.48% from the company’s previous close. Leerink Swann also issued estimates for Amicus Therapeutics’ Q3 2017 earnings at ($0.30) EPS, Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
Several other equities analysts also recently commented on FOLD. Bank of America Corporation lowered their price objective on Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Chardan Capital restated a “buy” rating and issued a $12.50 price objective on shares of Amicus Therapeutics in a research report on Thursday, June 1st. ValuEngine upgraded Amicus Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co set a $13.00 price objective on Amicus Therapeutics and gave the company a “buy” rating in a research report on Monday, June 5th. Finally, BidaskClub upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.08.
Shares of Amicus Therapeutics (FOLD) opened at 13.88 on Friday. The company’s market capitalization is $2.28 billion. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $14.36. The company’s 50 day moving average price is $13.20 and its 200-day moving average price is $9.77.
Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. The company had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. During the same period in the previous year, the business earned ($0.40) earnings per share. On average, equities analysts forecast that Amicus Therapeutics will post ($1.37) earnings per share for the current year.
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In other news, insider Jay Barth sold 30,000 shares of Amicus Therapeutics stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $10.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of Amicus Therapeutics stock in a transaction dated Thursday, July 13th. The stock was purchased at an average cost of $12.25 per share, for a total transaction of $18,375,000.00. The disclosure for this purchase can be found here. 3.40% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of FOLD. Janus Henderson Group PLC bought a new stake in shares of Amicus Therapeutics in the second quarter worth about $70,762,000. Wellington Management Group LLP increased its holdings in shares of Amicus Therapeutics by 358.4% in the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock worth $38,083,000 after purchasing an additional 4,175,995 shares during the last quarter. Morgan Stanley increased its holdings in shares of Amicus Therapeutics by 99.4% in the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after purchasing an additional 3,055,039 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Amicus Therapeutics in the first quarter worth about $21,394,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Amicus Therapeutics in the second quarter worth about $30,210,000.
About Amicus Therapeutics
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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