Amicus Therapeutics (NASDAQ:FOLD) Hits New 1-Year High – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $14.40 and last traded at $14.3760, with a volume of 491 shares. The stock had previously closed at $14.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FOLD shares. Jefferies Financial Group reissued a “hold” rating and issued a $14.50 price target (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating and set a $14.50 target price (down from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research report on Monday, December 29th. TD Cowen downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating and set a $14.50 price objective for the company. in a report on Monday, December 22nd. Finally, Needham & Company LLC downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Trading Up 0.0%

The firm has a market cap of $4.51 billion, a P/E ratio of -179.75 and a beta of 0.43. The business has a 50 day moving average of $14.32 and a two-hundred day moving average of $11.24. The company has a current ratio of 2.84, a quick ratio of 1.88 and a debt-to-equity ratio of 1.43.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $185.21 million for the quarter, compared to the consensus estimate of $185.00 million. Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.The business’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Analysts predict that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $14.35, for a total value of $322,875.00. Following the completion of the sale, the chief executive officer directly owned 998,680 shares in the company, valued at $14,331,058. This trade represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David Michael Clark sold 25,642 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $14.17, for a total value of $363,347.14. Following the completion of the sale, the insider directly owned 245,690 shares of the company’s stock, valued at $3,481,427.30. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 123,142 shares of company stock worth $1,759,472. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in Amicus Therapeutics by 450.1% in the 2nd quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 3,358 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,677 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Amicus Therapeutics by 2,651.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,871 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,803 shares in the last quarter. GAMMA Investing LLC grew its holdings in Amicus Therapeutics by 167.1% during the fourth quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,243 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Amicus Therapeutics in the first quarter valued at approximately $30,000.

About Amicus Therapeutics

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.