Amicus Therapeutics, Inc. (NASDAQ:FOLD) Receives Consensus Recommendation of “Buy” from Analysts

Posted by on Jun 18th, 2022

Amicus Therapeutics, Inc. (NASDAQ:FOLD – Get Rating) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $15.00.

A number of brokerages have recently issued reports on FOLD. SVB Leerink cut their target price on Amicus Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, February 24th. The Goldman Sachs Group began coverage on Amicus Therapeutics in a research report on Wednesday, April 13th. They set a “neutral” rating on the stock. Finally, StockNews.com began coverage on Amicus Therapeutics in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

FOLD opened at $9.35 on Friday. Amicus Therapeutics has a one year low of $5.91 and a one year high of $12.63. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.81 and a current ratio of 4.00. The stock’s fifty day moving average is $7.73 and its 200-day moving average is $9.10. The company has a market capitalization of $2.62 billion, a PE ratio of -9.64 and a beta of 1.41.

Amicus Therapeutics (NASDAQ:FOLD – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Amicus Therapeutics had a negative return on equity of 95.05% and a negative net margin of 84.97%. The firm had revenue of $78.72 million during the quarter, compared to the consensus estimate of $76.97 million. During the same period in the prior year, the firm posted ($0.25) EPS. On average, equities research analysts forecast that Amicus Therapeutics will post -0.89 EPS for the current fiscal year.

In other Amicus Therapeutics news, insider Ellen Rosenberg sold 11,018 shares of the business’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $9.06, for a total value of $99,823.08. Following the transaction, the insider now owns 302,952 shares in the company, valued at $2,744,745.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Crowley sold 21,814 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $8.00, for a total value of $174,512.00. Following the completion of the transaction, the chief executive officer now owns 944,153 shares in the company, valued at approximately $7,553,224. The disclosure for this sale can be found here. Insiders have sold 71,860 shares of company stock worth $571,602 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. First Trust Advisors LP bought a new stake in shares of Amicus Therapeutics during the 1st quarter worth about $635,000. Millennium Management LLC bought a new stake in shares of Amicus Therapeutics during the 2nd quarter worth about $451,000. Dark Forest Capital Management LP boosted its stake in shares of Amicus Therapeutics by 1,967.5% during the 3rd quarter. Dark Forest Capital Management LP now owns 4,838 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 4,604 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Amicus Therapeutics by 13.7% during the 3rd quarter. Invesco Ltd. now owns 169,533 shares of the biopharmaceutical company’s stock worth $1,619,000 after acquiring an additional 20,439 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Amicus Therapeutics by 8.0% during the 3rd quarter. Royal Bank of Canada now owns 158,227 shares of the biopharmaceutical company’s stock worth $1,512,000 after acquiring an additional 11,657 shares in the last quarter.

About Amicus Therapeutics (Get Rating)

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 based on in vitro assay data.

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