Bank of America Trims Amicus Therapeutics (NASDAQ:FOLD) Target Price to $13.00

Amicus Therapeutics (NASDAQ:FOLD) had its price objective cut by equities research analysts at Bank of America from $14.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America‘s target price suggests a potential upside of 37.13% from the stock’s current price.

A number of other brokerages also recently weighed in on FOLD. Cantor Fitzgerald restated an “overweight” rating and set a $22.00 price objective on shares of Amicus Therapeutics in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on Amicus Therapeutics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.50.

Amicus Therapeutics Stock Down 6.5 %

FOLD stock opened at $9.48 on Friday. The stock has a market capitalization of $2.81 billion, a P/E ratio of -18.59 and a beta of 0.80. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.88 and a quick ratio of 2.52. Amicus Therapeutics has a 1-year low of $9.24 and a 1-year high of $14.57. The business has a fifty day moving average price of $11.29 and a 200-day moving average price of $11.96.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $115.08 million during the quarter, compared to analysts’ expectations of $115.11 million. Amicus Therapeutics had a negative return on equity of 119.46% and a negative net margin of 37.96%. Equities analysts forecast that Amicus Therapeutics will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amicus Therapeutics news, insider David Michael Clark sold 4,427 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $61,978.00. Following the completion of the sale, the insider now directly owns 253,664 shares of the company’s stock, valued at $3,551,296. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Margaret G. Mcglynn sold 7,500 shares of Amicus Therapeutics stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.40, for a total transaction of $100,500.00. Following the transaction, the director now directly owns 59,289 shares of the company’s stock, valued at approximately $794,472.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Michael Clark sold 4,427 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $61,978.00. Following the transaction, the insider now owns 253,664 shares of the company’s stock, valued at $3,551,296. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,208 shares of company stock valued at $732,930. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Amicus Therapeutics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 28,492,486 shares of the biopharmaceutical company’s stock worth $404,308,000 after purchasing an additional 1,360,613 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Amicus Therapeutics by 1.3% during the 4th quarter. Perceptive Advisors LLC now owns 28,057,456 shares of the biopharmaceutical company’s stock valued at $398,135,000 after buying an additional 364,539 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Amicus Therapeutics by 101.9% in the 4th quarter. Wellington Management Group LLP now owns 15,190,024 shares of the biopharmaceutical company’s stock worth $215,546,000 after buying an additional 7,666,335 shares during the period. William Blair Investment Management LLC increased its stake in Amicus Therapeutics by 349.9% in the 3rd quarter. William Blair Investment Management LLC now owns 10,376,763 shares of the biopharmaceutical company’s stock worth $126,181,000 after buying an additional 8,070,098 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in Amicus Therapeutics by 2.1% during the third quarter. Fiera Capital Corp now owns 5,085,871 shares of the biopharmaceutical company’s stock valued at $61,844,000 after acquiring an additional 106,086 shares during the period.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.