Amicus Therapeutics, Inc. (FOLD) PT Raised to $17.50
Amicus Therapeutics, Inc. (NASDAQ:FOLD) had its price target increased by equities researchers at Chardan Capital from $12.50 to $17.50 in a research report issued on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price would suggest a potential upside of 39.11% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $12.00 price target (up from $10.00) on shares of Amicus Therapeutics in a research note on Wednesday, May 17th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $15.00 price target (up from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday. Zacks Investment Research raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. BidaskClub raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Finally, ValuEngine raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $14.58.
Shares of Amicus Therapeutics (NASDAQ FOLD) opened at 12.58 on Thursday. The stock’s 50 day moving average is $12.10 and its 200-day moving average is $8.42. The stock’s market capitalization is $1.80 billion. Amicus Therapeutics has a 12-month low of $4.41 and a 12-month high of $14.05. Amicus Therapeutics also was the recipient of unusually large options trading activity on Monday. Stock traders bought 11,013 call options on the company. This is an increase of 666% compared to the typical volume of 1,438 call options.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 672.48% and a negative return on equity of 66.85%. The firm had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.96 million. During the same period in the previous year, the company earned ($0.40) EPS. On average, analysts expect that Amicus Therapeutics will post ($1.41) earnings per share for the current year.
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 stock was bought at an average cost of $12.25 per share, with a total value of $18,375,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Hung Do sold 29,914 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $8.00, for a total transaction of $239,312.00. Following the completion of the sale, the insider now directly owns 474,438 shares of the company’s stock, valued at $3,795,504. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in FOLD. Wellington Management Group LLP boosted its stake in Amicus Therapeutics by 358.4% in the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock valued at $38,083,000 after buying an additional 4,175,995 shares during the period. Morgan Stanley boosted its stake in Amicus Therapeutics by 99.4% in the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock valued at $43,696,000 after buying an additional 3,055,039 shares during the period. Point72 Asset Management L.P. bought a new stake in Amicus Therapeutics during the first quarter valued at about $21,394,000. Palo Alto Investors LLC boosted its stake in Amicus Therapeutics by 23.0% in the first quarter. Palo Alto Investors LLC now owns 7,882,988 shares of the biopharmaceutical company’s stock valued at $56,206,000 after buying an additional 1,472,958 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Amicus Therapeutics during the first quarter valued at about $7,346,000.
About Amicus Therapeutics
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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