Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD – Get Rating) were up 10.6% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $12.11 and last traded at $12.10. Approximately 286,654 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,720,799 shares. The stock had previously closed at $10.94.
The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.02. Amicus Therapeutics had a negative net margin of 84.97% and a negative return on equity of 95.05%. During the same period in the prior year, the company posted ($0.19) earnings per share.
Analyst Ratings Changes
Separately, The Goldman Sachs Group assumed coverage on shares of Amicus Therapeutics in a report on Wednesday, April 13th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.
Institutional Trading of Amicus Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of FOLD. Allspring Global Investments Holdings LLC purchased a new stake in Amicus Therapeutics in the fourth quarter worth approximately $1,831,000. Cim Investment Management Inc. boosted its stake in shares of Amicus Therapeutics by 100.0% during the fourth quarter. Cim Investment Management Inc. now owns 42,608 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 21,304 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Amicus Therapeutics by 27.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 54,869 shares of the biopharmaceutical company’s stock valued at $634,000 after purchasing an additional 11,817 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Amicus Therapeutics by 2.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 88,800 shares of the biopharmaceutical company’s stock valued at $1,058,000 after purchasing an additional 2,500 shares during the period. Finally, Banque Pictet & Cie SA purchased a new stake in shares of Amicus Therapeutics during the fourth quarter valued at approximately $2,538,000.
Amicus Therapeutics Stock Performance
The stock has a market cap of $3.41 billion, a PE ratio of -12.56 and a beta of 0.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.00 and a quick ratio of 3.81. The business has a 50 day moving average price of $9.95 and a two-hundred day moving average price of $9.02.
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 based on in vitro assay data.
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