Amicus Therapeutics (NASDAQ:FOLD) Sets New 12-Month High – Should You Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $14.36 and last traded at $14.3550, with a volume of 7572094 shares. The stock had previously closed at $14.32.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup reaffirmed a “neutral” rating and set a $14.50 target price (down from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Leerink Partners downgraded Amicus Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $17.00 to $14.50 in a research report on Monday, December 29th. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group upped their target price on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amicus Therapeutics currently has a consensus rating of “Hold” and an average target price of $15.67.

Amicus Therapeutics Stock Up 0.4%

The firm has a 50 day moving average of $11.41 and a two-hundred day moving average of $8.85. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -359.41 and a beta of 0.42. The company has a quick ratio of 2.09, a current ratio of 2.99 and a debt-to-equity ratio of 1.70.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The firm had revenue of $169.06 million during the quarter, compared to the consensus estimate of $165.24 million. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity at Amicus Therapeutics

In other news, insider Ellen Rosenberg sold 36,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $10.00, for a total transaction of $360,000.00. Following the completion of the transaction, the insider directly owned 507,710 shares in the company, valued at approximately $5,077,100. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff Castelli sold 76,158 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $10.16, for a total value of $773,765.28. Following the sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 345,450 shares of company stock worth $3,657,000 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several large investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its holdings in shares of Amicus Therapeutics by 450.1% during the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 3,358 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Amicus Therapeutics by 472.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,677 shares during the last quarter. GAMMA Investing LLC boosted its position in Amicus Therapeutics by 167.1% during the 4th quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,243 shares during the period. Strs Ohio bought a new stake in Amicus Therapeutics during the 1st quarter worth approximately $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Amicus Therapeutics in the 3rd quarter valued at approximately $31,000.

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.