Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up on Analyst Upgrade

Amicus Therapeutics, Inc. (NASDAQ:FOLD – Get Rating)’s share price gapped up before the market opened on Wednesday after BTIG Research raised their price target on the stock from $14.00 to $16.00. The stock had previously closed at $12.42, but opened at $12.86. Amicus Therapeutics shares last traded at $13.14, with a volume of 20,911 shares.

A number of other analysts have also weighed in on FOLD. StockNews.com upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 31st. Morgan Stanley increased their target price on shares of Amicus Therapeutics from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 8th.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 5,470 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $10.01, for a total value of $54,754.70. Following the completion of the sale, the chief executive officer now directly owns 689,618 shares in the company, valued at $6,903,076.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 5,470 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $10.01, for a total transaction of $54,754.70. Following the completion of the transaction, the chief executive officer now owns 689,618 shares of the company’s stock, valued at $6,903,076.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John F. Crowley sold 11,346 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $10.32, for a total transaction of $117,090.72. Following the sale, the chairman now directly owns 823,737 shares of the company’s stock, valued at approximately $8,500,965.84. The disclosure for this sale can be found here. Insiders sold 196,386 shares of company stock worth $2,285,585 over the last three months. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC purchased a new position in shares of Amicus Therapeutics during the 4th quarter valued at $2,795,000. Fulton Bank N.A. bought a new stake in shares of Amicus Therapeutics in the 4th quarter worth about $144,000. Bank of New York Mellon Corp increased its holdings in shares of Amicus Therapeutics by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,229,564 shares of the biopharmaceutical company’s stock worth $12,837,000 after buying an additional 55,838 shares during the last quarter. Ambassador Advisors LLC bought a new stake in shares of Amicus Therapeutics in the 3rd quarter worth about $3,301,000. Finally, SevenOneSeven Capital Management bought a new position in Amicus Therapeutics during the 3rd quarter valued at about $309,000.

Amicus Therapeutics Price Performance

The company has a market capitalization of $3.68 billion, a P/E ratio of -14.24 and a beta of 0.88. The firm’s fifty day moving average is $11.88 and its 200 day moving average is $11.30. The company has a debt-to-equity ratio of 2.95, a quick ratio of 2.70 and a current ratio of 2.78.

Amicus Therapeutics (NASDAQ:FOLD – Get Rating) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. Amicus Therapeutics had a negative net margin of 81.65% and a negative return on equity of 123.94%. The company had revenue of $81.69 million during the quarter, compared to analysts’ expectations of $84.55 million. As a group, analysts predict that Amicus Therapeutics, Inc. will post -0.77 earnings per share for the current fiscal year.

Amicus Therapeutics Company Profile

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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.