Amicus Therapeutics, Inc. (FOLD) Stock Rating Reaffirmed by Leerink Swann
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “buy” rating reissued by research analysts at Leerink Swann in a research note issued to investors on Wednesday. They presently have a $20.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $17.00. Leerink Swann’s price target would suggest a potential upside of 25.16% from the company’s previous close.
Several 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 research note on Wednesday, July 12th. BidaskClub raised Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Robert W. Baird reissued an “outperform” rating and set a $12.00 target price on shares of Amicus Therapeutics in a research note on Friday, June 30th. Chardan Capital reissued a “buy” rating and set a $16.50 target price (down from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday, September 13th. Finally, ValuEngine raised Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.25.
Shares of Amicus Therapeutics (FOLD) traded down 6.01% during midday trading on Wednesday, hitting $15.02. The company had a trading volume of 2,361,001 shares. The company has a 50-day moving average of $14.03 and a 200-day moving average of $10.53. Amicus Therapeutics has a 12 month low of $4.41 and a 12 month high of $16.60. The company’s market capitalization is $2.47 billion.
Amicus Therapeutics (NASDAQ:FOLD) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. The firm had revenue of $7.16 million for the quarter, compared to analysts’ expectations of $6.96 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. Analysts predict that Amicus Therapeutics will post ($1.32) earnings per share for the current year.
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In other news, major shareholder Life Sciences Maste Perceptive purchased 1,500,000 shares of Amicus Therapeutics stock in a transaction that occurred on 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.
A number of institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia bought a new stake in Amicus Therapeutics in the second quarter worth $1,944,000. Redmile Group LLC boosted its holdings in Amicus Therapeutics by 5.9% in the second quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock worth $121,282,000 after acquiring an additional 668,080 shares in the last quarter. State Street Corp boosted its holdings in Amicus Therapeutics by 2.2% in the second quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock worth $59,332,000 after acquiring an additional 125,635 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Amicus Therapeutics in the second quarter worth $308,000. Finally, Palo Alto Investors LLC boosted its holdings in Amicus Therapeutics by 0.7% in the second quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock worth $79,964,000 after acquiring 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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