Amicus Therapeutics Inc. (FOLD) Sees Strong Trading Volume
Amicus Therapeutics Inc. (NASDAQ:FOLD) saw strong trading volume on Tuesday . 2,351,667 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 2,410,482 shares.The stock last traded at $8.06 and had previously closed at $7.64.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Leerink Swann reissued an “outperform” rating and issued a $17.00 price objective on shares of Amicus Therapeutics in a research note on Wednesday, June 1st. Finally, Chardan Capital set a $15.00 price objective on shares of Amicus Therapeutics and gave the stock a “buy” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Amicus Therapeutics currently has a consensus rating of “Buy” and an average target price of $12.19.
The company’s market capitalization is $1.12 billion. The firm’s 50-day moving average is $6.92 and its 200-day moving average is $6.95.
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Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.33) by $0.07. Equities analysts predict that Amicus Therapeutics Inc. will post ($1.35) EPS for the current fiscal year.
In other Amicus Therapeutics news, insider Jay Barth sold 10,458 shares of Amicus Therapeutics stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $7.00, for a total transaction of $73,206.00. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $105,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hung Do sold 25,000 shares of Amicus Therapeutics stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $7.00, for a total transaction of $175,000.00. Following the sale, the insider now owns 583,453 shares of the company’s stock, valued at $4,084,171. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. M&T Bank Corp acquired a new stake in shares of Amicus Therapeutics during the first quarter valued at approximately $157,000. Dynamic Technology Lab Private Ltd purchased a new position in Amicus Therapeutics during the second quarter valued at about $108,000. Principal Financial Group Inc. boosted its position in Amicus Therapeutics by 10.5% in the second quarter. Principal Financial Group Inc. now owns 22,411 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 2,122 shares in the last quarter. BlackRock Inc. boosted its position in Amicus Therapeutics by 224.8% in the second quarter. BlackRock Inc. now owns 26,443 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 18,301 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Amicus Therapeutics by 14.4% in the first quarter. Legal & General Group Plc now owns 29,770 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 3,743 shares in the last quarter. Institutional investors and hedge funds own 99.06% of the company’s stock.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of therapies to treat a range of rare and orphan diseases. Its lead product candidate, migalastat HCl (Galafold), is an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease, which is a type of lysosomal storage disorder (LSD).
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