Amicus Therapeutics Inc. (FOLD) Receives Outperform Rating from Leerink Swann
Amicus Therapeutics Inc. (NASDAQ:FOLD)‘s stock had its “outperform” rating restated by investment analysts at Leerink Swann in a research report issued on Wednesday. They currently have a $15.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $17.00. Leerink Swann’s price objective would indicate a potential upside of 150.84% from the stock’s previous close.
A number of other analysts also recently commented on the company. Cowen and Company reissued an “outperform” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Amicus Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $11.00 target price (down from $12.00) on shares of Amicus Therapeutics in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Amicus Therapeutics in a research report on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $16.00 target price (up from $15.00) on shares of Amicus Therapeutics in a research report on Tuesday. Finally, Zacks Investment Research lowered Amicus Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.08.
Amicus Therapeutics (NASDAQ:FOLD) traded down 8.14% during trading on Wednesday, hitting $5.98. The stock had a trading volume of 6,881,240 shares. The firm’s market cap is $851.11 million. The firm’s 50 day moving average is $7.82 and its 200 day moving average is $6.97. Amicus Therapeutics has a 1-year low of $4.98 and a 1-year high of $11.58.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. The firm earned $2.10 million during the quarter, compared to the consensus estimate of $1.71 million. On average, analysts anticipate that Amicus Therapeutics will post ($1.38) earnings per share for the current year.
In other Amicus Therapeutics news, CFO William D. Baird III sold 20,500 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $8.00, for a total value of $164,000.00. Following the transaction, the chief financial officer now owns 56,450 shares in the company, valued at $451,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hung Do sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $7.00, for a total value of $175,000.00. Following the completion of the transaction, the insider now owns 583,453 shares in the company, valued at approximately $4,084,171. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. Dynamic Technology Lab Private Ltd purchased a new position in shares of Amicus Therapeutics during the second quarter worth approximately $108,000. Principal Financial Group Inc. increased its position in shares of Amicus Therapeutics by 10.5% in the second quarter. Principal Financial Group Inc. now owns 22,411 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 2,122 shares during the period. BlackRock Inc. increased its position in shares of Amicus Therapeutics by 224.8% in the second quarter. BlackRock Inc. now owns 26,443 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 18,301 shares during the period. SG Americas Securities LLC purchased a new position in shares of Amicus Therapeutics during the third quarter worth approximately $151,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Amicus Therapeutics by 36.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 55,248 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 14,810 shares during the period.
Amicus Therapeutics Company Profile
Amicus Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of therapies to treat a range of rare and orphan diseases. Its lead product candidate, migalastat HCl (Galafold), is an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease, which is a type of lysosomal storage disorder (LSD).
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