Amicus Therapeutics (NASDAQ:FOLD) Hits New 12-Month High – Still a Buy?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week high on Friday . The company traded as high as $11.00 and last traded at $10.55, with a volume of 11127969 shares. The stock had previously closed at $9.90.

Analyst Ratings Changes

A number of brokerages have commented on FOLD. Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Monday. The Goldman Sachs Group boosted their price target on shares of Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Needham & Company LLC upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Amicus Therapeutics Price Performance

The firm has a market cap of $3.25 billion, a P/E ratio of -263.68 and a beta of 0.46. The company has a fifty day moving average of $9.10 and a 200-day moving average of $7.61. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.99 and a quick ratio of 2.09.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The business had revenue of $169.06 million for the quarter, compared to analysts’ expectations of $165.24 million. During the same period last year, the business earned $0.10 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts anticipate that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity

In other Amicus Therapeutics news, insider Jeff Castelli sold 76,158 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the transaction, the insider owned 439,318 shares in the company, valued at $4,463,470.88. This represents a 14.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ellen Rosenberg sold 23,621 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $10.00, for a total value of $236,210.00. Following the sale, the insider directly owned 507,710 shares of the company’s stock, valued at approximately $5,077,100. This represents a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 216,239 shares of company stock worth $2,165,304. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Amicus Therapeutics by 4.1% in the 1st quarter. Invesco Ltd. now owns 2,661,394 shares of the biopharmaceutical company’s stock worth $21,717,000 after purchasing an additional 105,856 shares in the last quarter. Norges Bank purchased a new position in shares of Amicus Therapeutics during the 2nd quarter valued at about $18,540,000. Capital Fund Management S.A. lifted its position in Amicus Therapeutics by 408.8% in the 1st quarter. Capital Fund Management S.A. now owns 312,561 shares of the biopharmaceutical company’s stock worth $2,550,000 after buying an additional 251,134 shares during the last quarter. Jump Financial LLC boosted its stake in Amicus Therapeutics by 246.3% in the second quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock worth $8,060,000 after buying an additional 1,000,395 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Amicus Therapeutics by 26.4% in the first quarter. Deutsche Bank AG now owns 1,038,990 shares of the biopharmaceutical company’s stock worth $8,478,000 after buying an additional 216,882 shares in the last quarter.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.