Zacks Investment Research upgraded shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “AMICUS THERAPEUTICS is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has completed Phase 2 clinical trials of Amigal(TM) for the treatment of Fabry disease and is conducting Phase 2 clinical trials of Plicera(TM) for the treatment of Gaucher disease. “
A number of other equities analysts also recently weighed in on FOLD. Leerink Swann reaffirmed an outperform rating and set a $15.00 price target on shares of Amicus Therapeutics in a research report on Thursday, March 30th. Robert W. Baird reaffirmed an outperform rating and set a $12.00 price target (up previously from $10.00) on shares of Amicus Therapeutics in a research report on Wednesday, May 17th. Bank of America Corporation reduced their price target on Amicus Therapeutics from $10.00 to $9.00 and set a buy rating for the company in a research report on Thursday, May 25th. Chardan Capital reaffirmed a buy rating and set a $12.50 price target on shares of Amicus Therapeutics in a research report on Thursday, June 1st. Finally, ValuEngine raised Amicus Therapeutics from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Amicus Therapeutics presently has a consensus rating of Buy and an average price target of $12.46.
Shares of Amicus Therapeutics (NASDAQ:FOLD) opened at 13.53 on Wednesday. The firm’s market capitalization is $1.93 billion. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $14.05. The firm has a 50-day moving average of $10.26 and a 200-day moving average of $7.65.
Amicus Therapeutics (NASDAQ:FOLD) last released its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.02. The business had revenue of $4.20 million during the quarter, compared to analysts’ expectations of $4.16 million. Amicus Therapeutics’s quarterly revenue was up 50.0% on a year-over-year basis. On average, equities research analysts anticipate that Amicus Therapeutics will post ($1.44) EPS for the current fiscal year.
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In related news, major shareholder Life Sciences Maste Perceptive acquired 1,500,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was bought at an average price of $12.25 per share, with a total value of $18,375,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hung Do sold 29,914 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $8.00, for a total value of $239,312.00. Following the completion of the sale, the insider now directly owns 474,438 shares of the company’s stock, valued at approximately $3,795,504. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Amicus Therapeutics by 12.2% in the fourth quarter. State Street Corp now owns 5,715,947 shares of the biopharmaceutical company’s stock valued at $28,386,000 after buying an additional 622,349 shares during the last quarter. Creative Planning increased its stake in Amicus Therapeutics by 56.2% in the first quarter. Creative Planning now owns 16,400 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,900 shares during the last quarter. Norges Bank bought a new stake in Amicus Therapeutics during the fourth quarter valued at approximately $5,064,000. Berson & Corrado Investment Advisors LLC increased its stake in shares of Amicus Therapeutics by 16.8% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 47,525 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 6,825 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of Amicus Therapeutics during the fourth quarter valued at about $1,522,000.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
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