Amicus Therapeutics (NASDAQ:FOLD) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Amicus Therapeutics (NASDAQ:FOLDFree Report) in a report issued on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $18.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages have also commented on FOLD. JPMorgan Chase & Co. decreased their price objective on Amicus Therapeutics from $21.00 to $19.00 and set an overweight rating on the stock in a research report on Monday, March 18th. Morgan Stanley decreased their price objective on Amicus Therapeutics from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Cantor Fitzgerald reiterated an overweight rating and issued a $22.00 price objective on shares of Amicus Therapeutics in a research report on Thursday, February 29th. Bank of America decreased their price objective on Amicus Therapeutics from $14.00 to $13.00 and set a buy rating on the stock in a research report on Friday, May 10th. Finally, Guggenheim upgraded Amicus Therapeutics from a neutral rating to a buy rating and set a $13.00 price target on the stock in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Amicus Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $17.57.

Read Our Latest Stock Analysis on Amicus Therapeutics

Amicus Therapeutics Trading Down 0.8 %

FOLD stock opened at $9.80 on Thursday. The business has a fifty day moving average price of $10.46 and a 200 day moving average price of $11.83. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -20.00 and a beta of 0.80. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.03 and a quick ratio of 2.61.

Amicus Therapeutics (NASDAQ:FOLDGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $110.40 million during the quarter, compared to analysts’ expectations of $111.19 million. Amicus Therapeutics had a negative return on equity of 77.08% and a negative net margin of 34.73%. The business’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. Analysts expect that Amicus Therapeutics will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $10.07, for a total transaction of $75,525.00. Following the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $8,928,605.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Amicus Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Comerica Bank raised its stake in shares of Amicus Therapeutics by 0.8% in the 4th quarter. Comerica Bank now owns 103,418 shares of the biopharmaceutical company’s stock valued at $1,468,000 after purchasing an additional 774 shares during the period. Van ECK Associates Corp raised its stake in shares of Amicus Therapeutics by 23.1% in the 4th quarter. Van ECK Associates Corp now owns 4,657 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 873 shares during the period. Arizona State Retirement System raised its stake in shares of Amicus Therapeutics by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 60,770 shares of the biopharmaceutical company’s stock valued at $739,000 after purchasing an additional 1,213 shares during the period. Franklin Resources Inc. raised its stake in shares of Amicus Therapeutics by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 54,943 shares of the biopharmaceutical company’s stock valued at $780,000 after purchasing an additional 1,258 shares during the period. Finally, American International Group Inc. raised its stake in shares of Amicus Therapeutics by 0.9% in the 4th quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock valued at $2,004,000 after purchasing an additional 1,298 shares during the period.

About Amicus Therapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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