Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares hit a new 52-week high during trading on Wednesday after Bank of America Corporation raised their price target on the stock from $15.00 to $20.00. Bank of America Corporation currently has a buy rating on the stock. Amicus Therapeutics traded as high as $16.16 and last traded at $16.24, with a volume of 10,557,300 shares trading hands. The stock had previously closed at $14.87.

A number of other equities research analysts have also recently issued reports on the company. Cowen and Company reiterated 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. BidaskClub raised Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Chardan Capital raised their target price on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a report 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. Amicus Therapeutics has a consensus rating of “Buy” and an average target price of $17.58.

In other Amicus Therapeutics news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of Amicus Therapeutics by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 169 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Amicus Therapeutics by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 26,883 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 487 shares during the period. KCG Holdings Inc. boosted its holdings in shares of Amicus Therapeutics by 1.1% during the 1st quarter. KCG Holdings Inc. now owns 66,066 shares of the biopharmaceutical company’s stock worth $471,000 after buying an additional 743 shares during the period. Legal & General Group Plc boosted its holdings in shares of Amicus Therapeutics by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 55,411 shares of the biopharmaceutical company’s stock worth $558,000 after buying an additional 852 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Amicus Therapeutics by 5.7% during the 2nd quarter. Amalgamated Bank now owns 18,451 shares of the biopharmaceutical company’s stock worth $186,000 after buying an additional 1,002 shares during the period.

The company’s market capitalization is $2.67 billion. The company has a 50 day moving average of $13.82 and a 200 day moving average of $10.45.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.03. The business 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 previous year, the business posted ($0.40) EPS. On average, analysts forecast that Amicus Therapeutics, Inc. will post ($1.31) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.watchlistnews.com/amicus-therapeutics-inc-fold-reaches-new-52-week-high-on-analyst-upgrade/1608461.html.

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.

Receive News & Ratings for Amicus Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.