Amicus Therapeutics (NASDAQ:FOLD) Trading Up 10.6% After Earnings Beat

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLDGet 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.

Insider Activity

In other news, COO Bradley L. Campbell sold 16,410 shares of the company’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $10.00, for a total transaction of $164,100.00. Following the sale, the chief operating officer now directly owns 689,618 shares in the company, valued at $6,896,180. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Bradley L. Campbell sold 16,410 shares of the company’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $10.00, for a total transaction of $164,100.00. Following the sale, the chief operating officer now directly owns 689,618 shares in the company, valued at $6,896,180. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daphne Quimi sold 4,396 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $9.00, for a total value of $39,564.00. Following the transaction, the chief financial officer now directly owns 345,507 shares of the company’s stock, valued at approximately $3,109,563. The disclosure for this sale can be found here. Insiders have sold a total of 130,779 shares of company stock worth $1,237,966 over the last ninety days. Company insiders own 2.50% of the company’s stock.

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

(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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