Bank of America Corp Lowers Amicus Therapeutics, Inc. (FOLD) Price Target to $9.00
Amicus Therapeutics, Inc. (NASDAQ:FOLD) had its target price reduced by equities researchers at Bank of America Corp from $10.00 to $9.00 in a report released on Thursday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Bank of America Corp’s price target suggests a potential upside of 13.49% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Leerink Swann reiterated an “outperform” rating and issued a $15.00 price objective on shares of Amicus Therapeutics in a report on Thursday, March 30th. Finally, Robert W. Baird upgraded shares of Amicus Therapeutics to an “outperform” rating in a report on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Amicus Therapeutics has a consensus rating of “Buy” and an average price target of $11.68.
Amicus Therapeutics (NASDAQ:FOLD) traded down 4.34% on Thursday, reaching $7.93. The company’s stock had a trading volume of 1,566,000 shares. The company’s market capitalization is $1.13 billion. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $9.61. The stock has a 50 day moving average price of $7.45 and a 200-day moving average price of $6.74.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.02. The company had revenue of $4.20 million for the quarter, compared to analysts’ expectations of $4.16 million. Amicus Therapeutics’s revenue was up 50.0% compared to the same quarter last year. Equities analysts predict that Amicus Therapeutics will post ($1.43) earnings per share for the current fiscal year.
In other Amicus Therapeutics news, COO Bradley L. Campbell sold 49,050 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $8.00, for a total transaction of $392,400.00. Following the completion of the transaction, the chief operating officer now owns 127,475 shares of the company’s stock, valued at approximately $1,019,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hung Do sold 29,914 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $8.00, for a total transaction of $239,312.00. Following the transaction, 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. 3.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Amicus Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 777,146 shares of the biopharmaceutical company’s stock worth $5,541,000 after buying an additional 41,711 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Amicus Therapeutics during the first quarter worth $21,394,000. Janus Capital Management LLC raised its position in Amicus Therapeutics by 3.6% in the first quarter. Janus Capital Management LLC now owns 7,136,697 shares of the biopharmaceutical company’s stock worth $50,883,000 after buying an additional 244,906 shares in the last quarter. Credit Suisse AG raised its position in Amicus Therapeutics by 58.9% in the first quarter. Credit Suisse AG now owns 293,835 shares of the biopharmaceutical company’s stock worth $2,095,000 after buying an additional 108,906 shares in the last quarter. Finally, Palo Alto Investors LLC raised its position in Amicus Therapeutics by 23.0% in the first quarter. Palo Alto Investors LLC now owns 7,882,988 shares of the biopharmaceutical company’s stock worth $56,206,000 after buying an additional 1,472,958 shares in the last quarter.
Amicus Therapeutics Company Profile
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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