Amicus Therapeutics, Inc. (FOLD) Rating Reiterated by Chardan Capital
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research note issued to investors on Thursday. They currently have a $18.50 target price on the biopharmaceutical company’s stock, up from their prior target price of $16.50. Chardan Capital’s price target would indicate a potential upside of 22.76% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Amicus Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and set a $12.00 price target on shares of Amicus Therapeutics in a report on Friday, June 30th. ValuEngine upgraded Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Finally, Leerink Swann restated an “outperform” rating and set a $17.00 price target (down from $18.00) on shares of Amicus Therapeutics in a report on Saturday, September 16th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Amicus Therapeutics currently has an average rating of “Buy” and a consensus price target of $18.07.
Shares of Amicus Therapeutics (FOLD) opened at 15.06 on Thursday. The firm’s market capitalization is $2.48 billion. Amicus Therapeutics has a one year low of $4.41 and a one year high of $16.60. The firm’s 50-day moving average is $14.11 and its 200 day moving average is $10.59.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. The firm had revenue of $7.16 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned ($0.40) EPS. Equities research analysts predict that Amicus Therapeutics will post ($1.32) earnings per share for the current year.
In other news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the stock in a transaction dated Thursday, July 13th. The shares were bought at an average cost of $12.25 per share, with a total value of $18,375,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of FOLD. Janus Henderson Group PLC acquired a new position in shares of Amicus Therapeutics during the second quarter worth approximately $70,762,000. Wellington Management Group LLP raised its position in shares of Amicus Therapeutics by 358.4% during the first quarter. Wellington Management Group LLP now owns 5,341,132 shares of the biopharmaceutical company’s stock worth $38,083,000 after purchasing an additional 4,175,995 shares during the period. Morgan Stanley raised its position in shares of Amicus Therapeutics by 99.4% during the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after purchasing an additional 3,055,039 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Amicus Therapeutics during the first quarter worth approximately $21,394,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Amicus Therapeutics during the second quarter worth approximately $30,210,000.
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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