Cowen and Company Reaffirms Buy Rating for Amicus Therapeutics, Inc. (FOLD)
Cowen and Company reaffirmed their buy rating on shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) in a research report report published on Monday. They currently have a $16.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts have also issued reports on FOLD. Chardan Capital raised their price target on Amicus Therapeutics from $12.50 to $17.50 and gave the stock a buy rating in a research note on Thursday, August 10th. BidaskClub lowered Amicus Therapeutics from a buy rating to a hold rating in a research note on Friday, August 11th. J P Morgan Chase & Co reissued an overweight rating and set a $15.00 price target (up from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Robert W. Baird raised their price target on Amicus Therapeutics from $12.00 to $15.00 and gave the stock an outperform rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Amicus Therapeutics from a strong sell rating to a sell rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Amicus Therapeutics currently has a consensus rating of Buy and an average price target of $14.58.
Shares of Amicus Therapeutics (NASDAQ FOLD) opened at 12.60 on Monday. The company has a 50-day moving average price of $12.41 and a 200-day moving average price of $8.67. The company’s market cap is $2.07 billion. Amicus Therapeutics has a 52-week low of $4.41 and a 52-week high of $14.05.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $6.96 million. During the same period last year, the company earned ($0.40) EPS. On average, equities analysts predict that Amicus Therapeutics will post ($1.38) EPS for the current year.
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In other Amicus Therapeutics news, insider Hung Do sold 29,914 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $8.00, for a total transaction of $239,312.00. Following the transaction, the insider now directly owns 474,438 shares in the company, valued at approximately $3,795,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of Amicus Therapeutics stock in a transaction on Thursday, July 13th. The shares were purchased at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Amicus Therapeutics during the first quarter worth about $399,000. Trexquant Investment LP bought a new position in shares of Amicus Therapeutics during the first quarter worth about $496,000. UBS Asset Management Americas Inc. increased its position in shares of Amicus Therapeutics by 71.8% in the first quarter. UBS Asset Management Americas Inc. now owns 50,674 shares of the biopharmaceutical company’s stock worth $361,000 after buying an additional 21,174 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Amicus Therapeutics by 12.5% in the first quarter. Bank of New York Mellon Corp now owns 672,463 shares of the biopharmaceutical company’s stock worth $4,794,000 after buying an additional 74,700 shares in the last quarter. Finally, Princeton Alpha Management LP bought a new position in shares of Amicus Therapeutics during the first quarter worth about $106,000.
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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