Amicus Therapeutics (NASDAQ:FOLD) Sets New 52-Week High – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price reached a new 52-week high on Monday . The company traded as high as $14.43 and last traded at $14.4250, with a volume of 35649 shares changing hands. The stock had previously closed at $14.43.

Analysts Set New Price Targets

FOLD has been the topic of several research analyst reports. TD Cowen cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price target on the stock. in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Friday. Leerink Partners cut shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.00 to $14.50 in a research report on Monday, December 29th. Citigroup restated a “neutral” rating and set a $14.50 price target (down from $17.00) on shares of Amicus Therapeutics in a research report on Monday, December 22nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $14.50 price objective (down from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Amicus Therapeutics has a consensus rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Stock Up 0.1%

The company has a debt-to-equity ratio of 1.43, a current ratio of 2.84 and a quick ratio of 1.88. The company has a market capitalization of $4.53 billion, a P/E ratio of -180.31 and a beta of 0.43. The company has a 50 day moving average of $14.34 and a 200-day moving average of $11.66.

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

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 75,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $14.31, for a total value of $1,073,250.00. Following the completion of the sale, the chief executive officer owned 1,021,180 shares in the company, valued at approximately $14,613,085.80. This represents a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

A number of hedge funds have recently made changes to their positions in FOLD. Vanguard Group Inc. grew its position in shares of Amicus Therapeutics by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,702,696 shares of the biopharmaceutical company’s stock worth $422,966,000 after purchasing an additional 168,667 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Amicus Therapeutics by 7.6% in 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 purchasing an additional 1,107,083 shares during the period. HBK Investments L P purchased a new stake in Amicus Therapeutics during the 4th quarter valued at approximately $217,160,000. State Street Corp raised its position in shares of Amicus Therapeutics by 28.3% during the fourth quarter. State Street Corp now owns 14,833,314 shares of the biopharmaceutical company’s stock valued at $211,226,000 after buying an additional 3,270,375 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Amicus Therapeutics by 178.4% in the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock worth $68,187,000 after buying an additional 7,625,000 shares in the last quarter.

Amicus Therapeutics Company Profile

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.