Amicus Therapeutics, Inc. (FOLD) Stock Rating Reaffirmed by Leerink Swann
Amicus Therapeutics, Inc. (NASDAQ:FOLD)‘s stock had its “outperform” rating reiterated by stock analysts at Leerink Swann in a research note issued to investors on Saturday. They currently have a $17.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $18.00. Leerink Swann’s price objective would indicate a potential upside of 22.48% from the stock’s current price. Leerink Swann also issued estimates for Amicus Therapeutics’ Q3 2017 earnings at ($0.30) EPS, Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.31) EPS, FY2018 earnings at ($1.06) EPS, FY2019 earnings at ($0.78) EPS and FY2020 earnings at ($0.55) EPS.
Several other analysts have also issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $18.00 price target (up previously from $16.00) on shares of Amicus Therapeutics in a research report on Thursday. Chardan Capital reiterated a “buy” rating and set a $16.50 price target (down previously from $17.50) on shares of Amicus Therapeutics in a research report on Wednesday. BidaskClub upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $15.00 price target (up previously from $13.00) on shares of Amicus Therapeutics in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Amicus Therapeutics presently has an average rating of “Buy” and a consensus target price of $15.08.
Amicus Therapeutics (FOLD) opened at 13.88 on Friday. The company has a 50-day moving average of $13.20 and a 200 day moving average of $9.77. The company’s market cap is $2.28 billion. Amicus Therapeutics has a 52-week low of $4.41 and a 52-week high of $14.36.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. The business had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. During the same quarter last year, the business posted ($0.40) EPS. Equities research analysts predict that Amicus Therapeutics will post ($1.37) EPS for the current year.
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In related news, insider Jay Barth sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 64,184 shares of the company’s stock, valued at approximately $641,840. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Life Sciences Maste Perceptive acquired 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 cost of $12.25 per share, with a total value of $18,375,000.00. The disclosure for this purchase can be found here. 3.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Amicus Therapeutics by 3.4% in the 2nd quarter. FMR LLC now owns 21,437,508 shares of the biopharmaceutical company’s stock valued at $215,876,000 after purchasing an additional 705,153 shares during the last quarter. Redmile Group LLC lifted its stake in Amicus Therapeutics by 5.9% in the 2nd 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 during the last quarter. Vanguard Group Inc. lifted its stake in Amicus Therapeutics by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,118,246 shares of the biopharmaceutical company’s stock valued at $91,821,000 after purchasing an additional 430,486 shares during the last quarter. Palo Alto Investors LLC lifted its stake in Amicus Therapeutics by 0.7% in the 2nd 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 during the last quarter. Finally, Janus Capital Management LLC lifted its stake in Amicus Therapeutics by 3.6% in the 1st quarter. Janus Capital Management LLC now owns 7,136,697 shares of the biopharmaceutical company’s stock valued at $50,883,000 after purchasing an additional 244,906 shares during 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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