Cowen and Company Reaffirms Outperform Rating for Amicus Therapeutics, Inc. (FOLD)
Cowen and Company reiterated their outperform rating on shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) in a report published on Thursday morning. Cowen and Company currently has a $18.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $16.00.
A number of other research firms also recently issued reports on FOLD. BidaskClub raised Amicus Therapeutics from a buy rating to a strong-buy rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Amicus Therapeutics from a sell rating to a hold rating in a research note on Wednesday, July 19th. Chardan Capital reaffirmed a buy rating and issued a $16.50 price objective (down previously from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday. Robert W. Baird lifted their price objective 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, J P Morgan Chase & Co reaffirmed an overweight rating and issued a $15.00 price objective (up previously from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Amicus Therapeutics currently has an average rating of Buy and an average price target of $15.08.
Shares of Amicus Therapeutics (FOLD) traded up 3.43% on Thursday, reaching $13.88. 10,928,293 shares of the company’s stock were exchanged. Amicus Therapeutics has a one year low of $4.41 and a one year high of $14.37. The firm’s market cap is $2.28 billion. The company has a 50 day moving average price of $13.20 and a 200 day moving average price of $9.77.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings data 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 business had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. During the same quarter in the previous year, the company posted ($0.40) EPS. Analysts expect that Amicus Therapeutics will post ($1.37) EPS for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were purchased at an average price of $12.25 per share, with a total value of $18,375,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jay Barth sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the transaction, the insider now directly owns 64,184 shares in the company, valued at approximately $641,840. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Amicus Therapeutics by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 777,146 shares of the biopharmaceutical company’s stock valued at $5,541,000 after purchasing an additional 41,711 shares during the last quarter. State of Wisconsin Investment Board bought a new position in shares of Amicus Therapeutics during the 2nd quarter valued at approximately $1,057,000. BNP Paribas Arbitrage SA increased its position in shares of Amicus Therapeutics by 3,672.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 68,012 shares of the biopharmaceutical company’s stock valued at $685,000 after purchasing an additional 66,209 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amicus Therapeutics by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 1,167,356 shares of the biopharmaceutical company’s stock valued at $8,323,000 after purchasing an additional 52,003 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Amicus Therapeutics by 99.4% during the 1st quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock valued at $43,696,000 after purchasing an additional 3,055,039 shares during the last quarter.
About Amicus Therapeutics
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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