Amicus Therapeutics (FOLD) Trading 9.1% Higher
Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price traded up 9.1% during trading on Thursday . The stock traded as high as $15.66 and last traded at $15.51. 5,618,000 shares changed hands during trading, an increase of 79% from the average session volume of 3,145,386 shares. The stock had previously closed at $14.21.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Leerink Swann reaffirmed a “buy” rating and set a $20.00 target price (up previously from $17.00) on shares of Amicus Therapeutics in a report on Wednesday, October 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $16.00 target price on shares of Amicus Therapeutics in a report on Monday, September 25th. Bank of America increased their target price on shares of Amicus Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 target price on shares of Amicus Therapeutics in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Amicus Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $18.31.
The stock has a market cap of $2,640.00, a PE ratio of -8.67 and a beta of 1.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 6.22 and a current ratio of 6.32.
Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.10). The firm had revenue of $10.90 million for the quarter, compared to analysts’ expectations of $9.02 million. Amicus Therapeutics had a negative net margin of 1,092.37% and a negative return on equity of 63.54%. The company’s quarterly revenue was up 419.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) EPS. equities research analysts anticipate that Amicus Therapeutics, Inc. will post -1.56 EPS for the current year.
In other Amicus Therapeutics news, SVP Daphne Quimi sold 8,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $14.72, for a total transaction of $117,760.00. Following the completion of the sale, the senior vice president now owns 62,676 shares of the company’s stock, valued at approximately $922,590.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John F. Crowley sold 71,735 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $14.75, for a total transaction of $1,058,091.25. Following the sale, the chief executive officer now directly owns 380,723 shares of the company’s stock, valued at approximately $5,615,664.25. The disclosure for this sale can be found here. Insiders have sold a total of 718,920 shares of company stock valued at $10,263,669 in the last three months. 3.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its position in Amicus Therapeutics by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 205,836 shares of the biopharmaceutical company’s stock valued at $2,073,000 after buying an additional 28,800 shares during the period. Bank of Nova Scotia purchased a new stake in shares of Amicus Therapeutics in the 2nd quarter worth about $1,944,000. American International Group Inc. lifted its position in shares of Amicus Therapeutics by 23.1% in the 3rd quarter. American International Group Inc. now owns 109,628 shares of the biopharmaceutical company’s stock worth $1,653,000 after purchasing an additional 20,597 shares during the period. Redmile Group LLC lifted its position in shares of Amicus Therapeutics by 5.9% in the 2nd quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock worth $121,282,000 after purchasing an additional 668,080 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Amicus Therapeutics by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,118,246 shares of the biopharmaceutical company’s stock worth $91,821,000 after purchasing an additional 430,486 shares during the period.
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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