Cowen and Company Reiterates “Outperform” Rating for Amicus Therapeutics, Inc. (FOLD)
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “outperform” rating reissued by investment analysts at Cowen and Company in a report issued on Thursday. They presently have a $18.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $16.00. Cowen and Company’s price target points to a potential upside of 33.33% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. J P Morgan Chase & Co set a $13.00 price target on shares of Amicus Therapeutics and gave the company a “buy” rating in a research report on Monday, June 5th. Chardan Capital restated a “buy” rating and set a $12.50 price objective on shares of Amicus Therapeutics in a research note on Thursday, June 1st. Bank of America Corporation reduced their price objective on shares of Amicus Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. BidaskClub upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Finally, ValuEngine upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.75.
Shares of Amicus Therapeutics (FOLD) traded down 1.26% during midday trading on Thursday, reaching $13.35. 1,787,126 shares of the company’s stock were exchanged. The stock’s market capitalization is $2.20 billion. Amicus Therapeutics has a 12-month low of $4.41 and a 12-month high of $14.36. The firm has a 50-day moving average of $13.20 and a 200-day moving average of $9.66.
Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.96 million. During the same period last year, the company posted ($0.40) EPS. Analysts anticipate that Amicus Therapeutics will post ($1.37) EPS for the current fiscal year.
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In other Amicus Therapeutics news, insider Jay Barth sold 30,000 shares of Amicus Therapeutics stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $10.00, for a total transaction of $300,000.00. Following the transaction, the insider now owns 64,184 shares of the company’s stock, valued at $641,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Life Sciences Maste Perceptive purchased 1,500,000 shares of the stock in a transaction on Thursday, July 13th. The shares were purchased at an average cost of $12.25 per share, for a total transaction of $18,375,000.00. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Bank of Nova Scotia purchased a new position in Amicus Therapeutics during the second quarter valued at approximately $1,944,000. Redmile Group LLC lifted its holdings in Amicus Therapeutics by 5.9% during the second quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock valued at $121,282,000 after purchasing an additional 668,080 shares in the last quarter. State Street Corp lifted its holdings in Amicus Therapeutics by 2.2% during the second quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock valued at $59,332,000 after purchasing an additional 125,635 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Amicus Therapeutics during the second quarter valued at approximately $308,000. Finally, Palo Alto Investors LLC lifted its holdings in Amicus Therapeutics by 0.7% during the second quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock valued at $79,964,000 after purchasing an additional 57,800 shares in the last quarter.
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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