Amicus Therapeutics (NASDAQ:FOLD) Reaches New 1-Year High – Still a Buy?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week high on Wednesday . The stock traded as high as $14.39 and last traded at $14.3850, with a volume of 985918 shares traded. The stock had previously closed at $14.36.

Analysts Set New Price Targets

A number of research analysts have commented on FOLD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. Guggenheim lowered Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $14.50 price target (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. TD Cowen lowered Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price objective for the company. in a research report on Monday, December 22nd. Finally, Cantor Fitzgerald cut Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their price objective for the stock from $21.00 to $14.50 in a report on Friday, December 19th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Price Performance

The company has a quick ratio of 1.88, a current ratio of 2.84 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $4.51 billion, a P/E ratio of -179.63 and a beta of 0.43. The firm has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $11.10.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). Amicus Therapeutics had a negative net margin of 4.27% and a positive return on equity of 4.15%. The business had revenue of $185.21 million during the quarter, compared to analyst estimates of $185.00 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Amicus Therapeutics’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts expect that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity at Amicus Therapeutics

In related news, insider David Michael Clark sold 25,643 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.00, for a total value of $282,073.00. Following the sale, the insider directly owned 271,332 shares of the company’s stock, valued at approximately $2,984,652. The trade was a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bradley L. Campbell sold 77,926 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $10.86, for a total transaction of $846,276.36. Following the completion of the transaction, the chief executive officer directly owned 1,129,782 shares of the company’s stock, valued at approximately $12,269,432.52. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,711 shares of company stock valued at $2,887,822 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Amicus Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 29,702,696 shares of the biopharmaceutical company’s stock valued at $422,966,000 after buying an additional 168,667 shares during the last quarter. William Blair Investment Management LLC boosted its position in Amicus Therapeutics by 7.6% during the 3rd quarter. William Blair Investment Management LLC now owns 15,749,240 shares of the biopharmaceutical company’s stock worth $124,104,000 after acquiring an additional 1,107,083 shares during the last quarter. HBK Investments L P acquired a new position in Amicus Therapeutics during the 4th quarter worth approximately $217,160,000. State Street Corp grew its stake in shares of Amicus Therapeutics by 28.3% during the 4th quarter. State Street Corp now owns 14,833,314 shares of the biopharmaceutical company’s stock worth $211,226,000 after acquiring an additional 3,270,375 shares in the last quarter. Finally, Vestal Point Capital LP grew its stake in shares of Amicus Therapeutics by 178.4% during the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after acquiring an additional 7,625,000 shares in 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.