Amicus Therapeutics (NASDAQ:FOLD) Sets New 12-Month High – What’s Next?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week high on Monday . The company traded as high as $10.57 and last traded at $10.0480, with a volume of 2562640 shares. The stock had previously closed at $9.56.

Wall Street Analyst Weigh In

FOLD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Zacks Research upgraded Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Needham & Company LLC upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, September 18th. Finally, The Goldman Sachs Group raised their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. One 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.57.

Amicus Therapeutics Trading Up 0.8%

The company has a current ratio of 3.21, a quick ratio of 2.29 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -80.27 and a beta of 0.66. The company has a fifty day simple moving average of $8.61 and a 200-day simple moving average of $7.26.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The business had revenue of $169.06 million during the quarter, compared to analysts’ expectations of $165.24 million. Amicus Therapeutics had a negative net margin of 6.67% and a negative return on equity of 5.07%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. Amicus Therapeutics has set its FY 2025 guidance at EPS. On average, research analysts forecast that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amicus Therapeutics news, insider David Michael Clark sold 25,643 shares of Amicus Therapeutics stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $9.51, for a total transaction of $243,864.93. Following the sale, the insider directly owned 322,618 shares of the company’s stock, valued at approximately $3,068,097.18. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Amicus Therapeutics

Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its holdings in Amicus Therapeutics by 0.3% during the third quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock worth $3,066,000 after buying an additional 1,333 shares during the last quarter. Van ECK Associates Corp boosted its position in Amicus Therapeutics by 35.1% during the third quarter. Van ECK Associates Corp now owns 5,638 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 1,466 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Amicus Therapeutics by 40.2% in the third quarter. Parallel Advisors LLC now owns 5,756 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 1,649 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Amicus Therapeutics by 1.5% during the 3rd quarter. Gotham Asset Management LLC now owns 138,523 shares of the biopharmaceutical company’s stock worth $1,092,000 after purchasing an additional 1,987 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in Amicus Therapeutics by 2.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 83,764 shares of the biopharmaceutical company’s stock valued at $480,000 after acquiring an additional 2,263 shares during the period.

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.