Amicus Therapeutics Hits New 12-Month High on Analyst Upgrade (FOLD)
Amicus Therapeutics (NASDAQ:FOLD) reached a new 52-week high on Wednesday after Cowen and Company raised their price target on the stock to $14.00, Stock Ratings Network reports. The company traded as high as $5.99 and last traded at $5.80, with a volume of 23,566,653 shares. The stock had previously closed at $4.57.
A number of other firms have also recently commented on FOLD. Analysts at Janney Montgomery Scott upgraded shares of Amicus Therapeutics from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 1st. They now have a $5.00 price target on the stock, up previously from $2.50. Separately, analysts at Leerink Swann upgraded shares of Amicus Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $6.00 price target on the stock, up previously from $2.50. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Amicus Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Monday, June 30th.
The stock’s 50-day moving average is $4.1 and its 200-day moving average is $2.81. The company’s market cap is $457.5 million. Amicus Therapeutics also saw some unusual options trading activity on Tuesday. Traders bought 5,148 put options on the company. This is an increase of 533% compared to the typical daily volume of 813 put options.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.23) by $0.08. On average, analysts predict that Amicus Therapeutics will post $-0.94 earnings per share for the current fiscal year.
Amicus Therapeutics, Inc (NASDAQ:FOLD) is a United States-based biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule drugs known as pharmacological chaperones for treating a range of diseases, including lysosomal storage diseases and diseases of neurodegeneration.
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