Amicus Therapeutics (NASDAQ:FOLD) Upgraded by StockNews.com to Buy

Amicus Therapeutics (NASDAQ:FOLD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently issued reports on FOLD. Jefferies Financial Group initiated coverage on Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Amicus Therapeutics in a research note on Friday, September 20th. Bank of America lifted their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Amicus Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $17.13.

Amicus Therapeutics Stock Performance

Shares of FOLD opened at $11.87 on Wednesday. Amicus Therapeutics has a 12-month low of $9.02 and a 12-month high of $14.57. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. The company has a market cap of $3.52 billion, a PE ratio of -24.22 and a beta of 0.69. The stock has a 50-day moving average price of $11.18 and a 200-day moving average price of $10.56.

Amicus Therapeutics (NASDAQ:FOLD) last announced its 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 business had revenue of $126.67 million during the quarter, compared to analyst estimates of $121.21 million. Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. Amicus Therapeutics’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, equities analysts forecast that Amicus Therapeutics will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Amicus Therapeutics

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at $10,382,718.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 22,500 shares of company stock worth $244,875. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FOLD. Blue Trust Inc. increased its position in shares of Amicus Therapeutics by 1,705.4% during the third quarter. Blue Trust Inc. now owns 2,997 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 2,831 shares during the period. nVerses Capital LLC purchased a new position in shares of Amicus Therapeutics in the 3rd quarter valued at approximately $187,000. Creative Planning boosted its position in shares of Amicus Therapeutics by 79.6% during the third quarter. Creative Planning now owns 52,855 shares of the biopharmaceutical company’s stock valued at $564,000 after purchasing an additional 23,433 shares in the last quarter. Procyon Advisors LLC bought a new position in Amicus Therapeutics in the third quarter worth $263,000. Finally, Inspire Investing LLC lifted its position in Amicus Therapeutics by 100.5% during the 3rd quarter. Inspire Investing LLC now owns 70,673 shares of the biopharmaceutical company’s stock valued at $755,000 after acquiring an additional 35,431 shares during the period.

Amicus Therapeutics Company Profile

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.