Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) dropped 16.8% on Monday after an insider sold shares in the company. The company traded as low as $9.44 and last traded at $9.49. Approximately 53,613 shares traded hands during trading, a decline of 98% from the average daily volume of 3,568,320 shares. The stock had previously closed at $11.41.
Specifically, CEO John F. Crowley sold 63,543 shares of the firm’s stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $12.18, for a total transaction of $773,953.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Bradley L. Campbell sold 10,515 shares of the firm’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $11.32, for a total value of $119,029.80. The disclosure for this sale can be found here. Insiders have sold 175,536 shares of company stock worth $2,065,762 in the last 90 days. Insiders own 2.50% of the company’s stock.
A number of research analysts recently weighed in on FOLD shares. SVB Leerink reduced their target price on Amicus Therapeutics from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, September 30th. JPMorgan Chase & Co. upgraded Amicus Therapeutics from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $17.11 to $16.00 in a report on Thursday, September 30th. Finally, Stifel Nicolaus upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a report on Monday, November 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $15.25.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data on Monday, November 8th. The biopharmaceutical company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Amicus Therapeutics had a negative net margin of 81.17% and a negative return on equity of 84.62%. The company had revenue of $79.55 million during the quarter, compared to analysts’ expectations of $81.42 million. During the same period last year, the business earned ($0.22) earnings per share. Equities research analysts expect that Amicus Therapeutics, Inc. will post -0.77 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Amicus Therapeutics by 27,670.0% during the second quarter. Canada Pension Plan Investment Board now owns 2,777 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 2,767 shares during the last quarter. Dark Forest Capital Management LP increased its position in shares of Amicus Therapeutics by 1,967.5% during the third quarter. Dark Forest Capital Management LP now owns 4,838 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 4,604 shares during the last quarter. Copernicus Capital Management LLC purchased a new stake in shares of Amicus Therapeutics during the third quarter worth about $96,000. Paloma Partners Management Co purchased a new stake in shares of Amicus Therapeutics during the second quarter worth about $98,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Amicus Therapeutics during the third quarter worth about $101,000.
About Amicus Therapeutics (NASDAQ:FOLD)
Amicus Therapeutics, Inc operates as a biotechnology company. The firm focuses on discovering, developing and delivering medicines for people living with metabolic diseases. Its product portfolio includes first and only approved oral precision medicine for people living with Fabry disease who have amenable genetic variants, a novel, clinical-stage, treatment paradigm for Pompe disease and a rare disease gene therapy portfolio.
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