Cowen and Company Reiterates Buy Rating for Amicus Therapeutics, Inc. (NASDAQ:FOLD)
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “buy” rating reiterated by equities research analysts at Cowen and Company in a research note issued on Monday. They presently have a $16.00 price target on the biopharmaceutical company’s stock. Cowen and Company’s target price suggests a potential upside of 32.78% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Robert W. Baird restated an “outperform” rating and issued a $12.00 price target (up previously from $10.00) on shares of Amicus Therapeutics in a report on Wednesday, May 17th. Zacks Investment Research upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Chardan Capital raised their price target on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the company a “buy” rating in a report on Thursday. BidaskClub lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday. Finally, ValuEngine upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.58.
Amicus Therapeutics (NASDAQ:FOLD) traded up 3.07% during mid-day trading on Monday, reaching $12.42. The company’s stock had a trading volume of 2,411,775 shares. The firm’s 50 day moving average is $12.20 and its 200-day moving average is $8.49. The stock’s market cap is $2.04 billion. Amicus Therapeutics has a one year low of $4.41 and a one year high of $14.05.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. During the same quarter last year, the firm posted ($0.40) earnings per share. Equities analysts expect that Amicus Therapeutics will post ($1.41) earnings per share for the current fiscal year.
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In related news, insider Jay Barth sold 30,000 shares of Amicus Therapeutics stock in a transaction on Monday, June 19th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. Following the completion of the sale, the insider now owns 64,184 shares in the company, valued at $641,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Life Sciences Maste Perceptive purchased 1,500,000 shares of the company’s stock in a transaction that occurred on 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 disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of FOLD. Teacher Retirement System of Texas raised its stake in shares of Amicus Therapeutics by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 169 shares during the period. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Amicus Therapeutics during the second quarter worth about $111,000. Tudor Investment Corp ET AL bought a new stake in shares of Amicus Therapeutics during the second quarter worth about $124,000. Aperio Group LLC raised its stake in shares of Amicus Therapeutics by 13.5% in the second quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 1,663 shares during the period. Finally, Zacks Investment Management bought a new stake in shares of Amicus Therapeutics during the second quarter worth about $145,000.
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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