Amicus Therapeutics, Inc. (FOLD) Given “Outperform” Rating at Leerink Swann
Leerink Swann reiterated their outperform rating on shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) in a research note published on Saturday. They currently have a $17.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $18.00. Leerink Swann also issued estimates for Amicus Therapeutics’ Q3 2017 earnings at ($0.30) EPS, Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
FOLD has been the topic of a number of other research reports. BidaskClub lowered Amicus Therapeutics from a strong-buy rating to a buy rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Amicus Therapeutics from a hold rating to a sell rating in a research note on Wednesday, July 12th. Bank of America Corporation lowered their price objective on Amicus Therapeutics from $10.00 to $9.00 and set a buy rating on the stock in a research note on Thursday, May 25th. Cowen and Company restated a buy rating and set a $16.00 price objective (up previously from $10.00) on shares of Amicus Therapeutics in a research note on Tuesday, July 11th. Finally, Robert W. Baird restated an outperform rating and set a $12.00 price objective on shares of Amicus Therapeutics in a research note on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $15.08.
Amicus Therapeutics (FOLD) traded up 3.43% during mid-day trading on Friday, hitting $13.88. The stock had a trading volume of 10,928,293 shares. The firm’s market capitalization is $2.28 billion. Amicus Therapeutics has a one year low of $4.41 and a one year high of $14.37. The stock’s 50 day moving average price is $13.20 and its 200 day moving average price is $9.77.
Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. The company had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same quarter last year, the company earned ($0.40) earnings per share. Analysts forecast that Amicus Therapeutics will post ($1.37) EPS for the current year.
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In related news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jay Barth sold 30,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $10.00, for a total value of $300,000.00. Following the transaction, the insider now owns 64,184 shares in the company, valued at approximately $641,840. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia acquired a new stake in shares of Amicus Therapeutics in the 2nd quarter valued at $1,944,000. Redmile Group LLC boosted its holdings in shares of Amicus Therapeutics by 5.9% in the 2nd quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock valued at $121,282,000 after purchasing an additional 668,080 shares in the last quarter. State Street Corp boosted its holdings in shares of Amicus Therapeutics by 2.2% in the 2nd quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock valued at $59,332,000 after purchasing an additional 125,635 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Amicus Therapeutics in the 2nd quarter valued at $308,000. Finally, Palo Alto Investors LLC boosted its holdings in shares of Amicus Therapeutics by 0.7% in the 2nd quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock valued at $79,964,000 after purchasing an additional 57,800 shares in the last quarter.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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