Citigroup Reaffirms Neutral Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “neutral” rating reissued by equities researchers at Citigroup in a report released on Monday,Benzinga reports. They currently have a $14.50 price target on the biopharmaceutical company’s stock, down from their prior price target of $17.00. Citigroup’s price objective indicates a potential upside of 2.14% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 15th. Wall Street Zen upgraded shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald cut shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and reduced their target price for the company from $21.00 to $14.50 in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Amicus Therapeutics Trading Up 30.4%

NASDAQ:FOLD opened at $14.20 on Monday. The company has a market cap of $4.38 billion, a PE ratio of -354.81 and a beta of 0.46. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70. The company has a 50 day simple moving average of $9.48 and a two-hundred day simple moving average of $7.85. Amicus Therapeutics has a 12 month low of $5.51 and a 12 month high of $14.36.

Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The firm had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Research analysts forecast that Amicus Therapeutics will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In other Amicus Therapeutics news, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $10.16, for a total transaction of $773,765.28. Following the sale, the insider owned 439,318 shares in the company, valued at approximately $4,463,470.88. This trade represents a 14.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bradley L. Campbell sold 77,926 shares of Amicus Therapeutics stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $10.86, for a total transaction of $846,276.36. Following the transaction, the chief executive officer directly owned 1,129,782 shares in the company, valued at $12,269,432.52. This represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 319,808 shares of company stock valued at $3,293,653 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Amicus Therapeutics in the 2nd quarter worth approximately $18,540,000. Jump Financial LLC boosted its position in shares of Amicus Therapeutics by 246.3% during the 2nd quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock valued at $8,060,000 after acquiring an additional 1,000,395 shares during the last quarter. Capital Fund Management S.A. grew its holdings in shares of Amicus Therapeutics by 408.8% in the first quarter. Capital Fund Management S.A. now owns 312,561 shares of the biopharmaceutical company’s stock valued at $2,550,000 after purchasing an additional 251,134 shares in the last quarter. Advantage Alpha Capital Partners LP bought a new stake in Amicus Therapeutics in the second quarter worth $201,000. Finally, 683 Capital Management LLC increased its position in Amicus Therapeutics by 249.1% in the second quarter. 683 Capital Management LLC now owns 960,000 shares of the biopharmaceutical company’s stock worth $5,501,000 after purchasing an additional 685,000 shares during the last quarter.

About Amicus Therapeutics

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.