Cantor Fitzgerald Reaffirms Overweight Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Friday, Benzinga reports. They presently have a $20.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 84.33% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 target price for the company. Wells Fargo & Company started coverage on shares of Amicus Therapeutics in a report on Thursday, May 30th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Amicus Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Amicus Therapeutics Price Performance

Shares of NASDAQ:FOLD traded down $0.15 during trading hours on Friday, hitting $10.85. 1,201,198 shares of the company’s stock traded hands, compared to its average volume of 2,745,314. The company’s fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $10.75. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -22.14 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. Amicus Therapeutics has a 52 week low of $9.02 and a 52 week high of $14.57.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $126.67 million for the quarter, compared to analysts’ expectations of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The firm’s revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) earnings per share. As a group, equities analysts anticipate that Amicus Therapeutics will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Bradley L. Campbell sold 7,500 shares of Amicus Therapeutics stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total transaction of $87,825.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at approximately $10,382,718.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bradley L. Campbell sold 6,100 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $10.00, for a total value of $61,000.00. Following the completion of the transaction, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,866,540. The disclosure for this sale can be found here. Insiders sold a total of 21,100 shares of company stock worth $226,375 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amicus Therapeutics

A number of large investors have recently bought and sold shares of FOLD. Headlands Technologies LLC acquired a new stake in shares of Amicus Therapeutics in the second quarter worth about $89,000. Sage Capital Advisors llc acquired a new stake in Amicus Therapeutics in the 2nd quarter worth approximately $103,000. Sanctuary Advisors LLC bought a new stake in Amicus Therapeutics during the second quarter worth approximately $138,000. EntryPoint Capital LLC grew its holdings in Amicus Therapeutics by 278.8% during the first quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 9,729 shares during the last quarter. Finally, Old Well Partners LLC bought a new position in shares of Amicus Therapeutics in the fourth quarter valued at approximately $180,000.

About Amicus Therapeutics

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.