Short Interest in Amicus Therapeutics, Inc. (FOLD) Declines By 9.2%
Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 29,491,417 shares, a decrease of 9.2% from the October 13th total of 32,479,058 shares. Currently, 18.5% of the company’s stock are sold short. Based on an average trading volume of 2,555,483 shares, the days-to-cover ratio is currently 11.5 days.
FOLD has been the subject of several recent analyst reports. J P Morgan Chase & Co restated an “overweight” rating on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. BidaskClub downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Chardan Capital restated a “buy” rating and set a $16.50 target price (down previously from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday, September 13th. Zacks Investment Research upgraded Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, October 10th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Amicus Therapeutics in a research report on Thursday, September 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.81.
In related news, CFO William D. Baird III sold 40,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $14.25, for a total transaction of $570,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Daphne Quimi sold 7,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $14.25, for a total value of $99,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 628,224 shares of company stock valued at $9,024,003. 3.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Amicus Therapeutics during the 3rd quarter valued at $102,000. Teacher Retirement System of Texas increased its holdings in Amicus Therapeutics by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 169 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Amicus Therapeutics during the 2nd quarter valued at $111,000. Tudor Investment Corp ET AL acquired a new stake in Amicus Therapeutics during the 2nd quarter valued at $124,000. Finally, Aperio Group LLC increased its holdings in Amicus Therapeutics by 13.5% during the 2nd quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 1,663 shares in the last quarter.
Amicus Therapeutics (NASDAQ:FOLD) opened at $13.48 on Friday. Amicus Therapeutics has a twelve month low of $4.41 and a twelve month high of $16.60. The company has a debt-to-equity ratio of 0.39, a quick ratio of 6.22 and a current ratio of 6.32.
Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.10). Amicus Therapeutics had a negative return on equity of 63.54% and a negative net margin of 1,092.37%. The company had revenue of $10.90 million during the quarter, compared to analyst estimates of $9.02 million. During the same period in the previous year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was up 419.0% on a year-over-year basis. equities research analysts predict that Amicus Therapeutics will post -1.51 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Short Interest in Amicus Therapeutics, Inc. (FOLD) Declines By 9.2%” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/11/17/short-interest-in-amicus-therapeutics-inc-fold-declines-by-9-2.html.
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.
Receive News & Stock Ratings for Amicus Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics Inc. and related stocks with our FREE daily email newsletter.