Amicus Therapeutics, Inc. (FOLD) Earns “Outperform” Rating from Leerink Swann
Leerink Swann reissued their outperform rating on shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) in a research report report published on Saturday morning. The brokerage currently has a $17.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $18.00. Leerink Swann also issued estimates for Amicus Therapeutics’ Q3 2017 earnings at ($0.30) EPS, Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
A number of other research firms also recently commented on FOLD. Zacks Investment Research upgraded Amicus Therapeutics from a sell rating to a hold rating in a research note on Wednesday, July 19th. BidaskClub downgraded Amicus Therapeutics from a buy rating to a hold rating in a research note on Friday, August 11th. Chardan Capital reiterated a buy rating and issued a $16.50 price target (down from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday, September 13th. Robert W. Baird lifted 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, Cowen and Company reiterated an outperform rating and issued a $18.00 price target (up from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, September 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.08.
Shares of Amicus Therapeutics (NASDAQ:FOLD) opened at 13.67 on Friday. The firm’s market capitalization is $2.25 billion. Amicus Therapeutics has a 12 month low of $4.41 and a 12 month high of $14.36. The company has a 50 day moving average price of $13.21 and a 200-day moving average price of $9.85.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. The business had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.96 million. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. During the same period last year, the firm earned ($0.40) earnings per share. Equities research analysts expect that Amicus Therapeutics will post ($1.30) EPS for the current fiscal year.
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In related news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was bought at an average cost of $12.25 per share, for a total transaction of $18,375,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of FOLD. Teachers Advisors LLC boosted its stake in Amicus Therapeutics by 18.6% in the fourth quarter. Teachers Advisors LLC now owns 240,563 shares of the biopharmaceutical company’s stock valued at $1,196,000 after acquiring an additional 37,705 shares during the period. Nationwide Fund Advisors boosted its stake in Amicus Therapeutics by 11.5% in the first quarter. Nationwide Fund Advisors now owns 131,945 shares of the biopharmaceutical company’s stock valued at $941,000 after acquiring an additional 13,563 shares during the period. Russell Investments Group Ltd. boosted its stake in Amicus Therapeutics by 1,004.9% in the first quarter. Russell Investments Group Ltd. now owns 121,338 shares of the biopharmaceutical company’s stock valued at $865,000 after acquiring an additional 110,356 shares during the period. Wells Fargo & Company MN boosted its stake in Amicus Therapeutics by 51.7% in the first quarter. Wells Fargo & Company MN now owns 153,473 shares of the biopharmaceutical company’s stock valued at $1,094,000 after acquiring an additional 52,287 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in 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 valued at $4,794,000 after acquiring an additional 74,700 shares during the period.
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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