Amicus Therapeutics (NASDAQ:FOLD) Reaches New 12-Month High – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) reached a new 52-week high on Wednesday . The stock traded as high as $14.39 and last traded at $14.3850, with a volume of 985918 shares traded. The stock had previously closed at $14.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FOLD shares. Leerink Partners cut Amicus Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $17.00 to $14.50 in a research note on Monday, December 29th. Guggenheim lowered Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Citigroup reissued a “neutral” rating and set a $14.50 price objective (down from $17.00) on shares of Amicus Therapeutics in a research report on Monday, December 22nd. Needham & Company LLC cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Cantor Fitzgerald lowered shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and cut their target price for the company from $21.00 to $14.50 in a research note on Friday, December 19th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.39.

Amicus Therapeutics Trading Up 0.2%

The company has a market cap of $4.52 billion, a PE ratio of -179.81 and a beta of 0.43. The company has a current ratio of 2.84, a quick ratio of 1.88 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average price of $14.31 and a 200 day moving average price of $11.05.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $185.21 million during the quarter, compared to analysts’ expectations of $185.00 million. Amicus Therapeutics had a positive return on equity of 4.15% and a negative net margin of 4.27%.Amicus Therapeutics’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. Sell-side analysts predict that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Michael Clark sold 25,642 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $14.17, for a total value of $363,347.14. Following the sale, the insider owned 245,690 shares in the company, valued at $3,481,427.30. This represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bradley L. Campbell sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $14.35, for a total value of $322,875.00. Following the transaction, the chief executive officer directly owned 998,680 shares of the company’s stock, valued at approximately $14,331,058. This trade represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 226,711 shares of company stock worth $2,887,822. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in Amicus Therapeutics by 32.7% in the 4th quarter. Signaturefd LLC now owns 2,895 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 714 shares in the last quarter. Gotham Asset Management LLC increased its stake in Amicus Therapeutics by 0.7% during the 4th quarter. Gotham Asset Management LLC now owns 139,551 shares of the biopharmaceutical company’s stock valued at $1,987,000 after purchasing an additional 1,028 shares in the last quarter. GAMMA Investing LLC raised its holdings in Amicus Therapeutics by 167.1% in the fourth quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,243 shares during the last quarter. Allworth Financial LP raised its holdings in Amicus Therapeutics by 36.3% in the third quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,246 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Amicus Therapeutics by 0.3% in the third quarter. Allianz Asset Management GmbH now owns 389,109 shares of the biopharmaceutical company’s stock worth $3,066,000 after buying an additional 1,333 shares in the last quarter.

About Amicus Therapeutics

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.