Amicus Therapeutics (NASDAQ:FOLD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD - Free Report) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other equities research analysts have also recently commented on FOLD. Needham & Company LLC restated a "hold" rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. Bank of America upped their target price on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Jefferies Financial Group started coverage on Amicus Therapeutics in a report on Friday, September 6th. They set a "buy" rating and a $18.00 price target on the stock. Morgan Stanley dropped their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lowered their price target on Amicus Therapeutics from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.13.

Amicus Therapeutics Stock Performance

FOLD stock traded down $0.47 during trading on Wednesday, reaching $11.40. The stock had a trading volume of 2,254,547 shares, compared to its average volume of 2,742,900. The stock's 50 day moving average is $11.18 and its two-hundred day moving average is $10.56. The firm has a market cap of $3.38 billion, a PE ratio of -23.27 and a beta of 0.69. Amicus Therapeutics has a 52 week low of $9.02 and a 52 week high of $14.57. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93.

Amicus Therapeutics (NASDAQ:FOLD - Get Free Report) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The business had revenue of $126.67 million during the quarter, compared to analysts' expectations of $121.21 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The firm's revenue was up 34.0% on a year-over-year basis. As a group, equities analysts anticipate that Amicus Therapeutics will post -0.07 earnings per share for the current year.

Insider Activity

In other news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total value of $87,825.00. Following the sale, the chief executive officer now owns 886,654 shares of the company's stock, valued at approximately $10,382,718.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 22,500 shares of company stock valued at $244,875. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Amicus Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. grew its holdings in shares of Amicus Therapeutics by 5.3% in the second quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company's stock worth $184,000 after purchasing an additional 936 shares during the last quarter. American International Group Inc. increased its position in shares of Amicus Therapeutics by 0.9% during the fourth quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company's stock worth $2,004,000 after acquiring an additional 1,298 shares during the period. Arizona State Retirement System increased its position in shares of Amicus Therapeutics by 2.6% during the second quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company's stock worth $615,000 after acquiring an additional 1,577 shares during the period. Diversified Trust Co raised its stake in shares of Amicus Therapeutics by 3.8% during the third quarter. Diversified Trust Co now owns 74,501 shares of the biopharmaceutical company's stock valued at $796,000 after acquiring an additional 2,698 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Amicus Therapeutics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company's stock valued at $2,389,000 after purchasing an additional 2,737 shares during the period.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.