Short Interest in Amicus Therapeutics, Inc. (FOLD) Drops By 10.0%
Amicus Therapeutics, Inc. (NASDAQ:FOLD) was the target of a significant decrease in short interest during the month of September. As of September 29th, there was short interest totalling 31,216,474 shares, a decrease of 10.0% from the September 15th total of 34,667,755 shares. Approximately 19.6% of the company’s shares are sold short. Based on an average daily volume of 4,218,265 shares, the short-interest ratio is presently 7.4 days.
Several equities research analysts have recently commented on FOLD shares. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Amicus Therapeutics in a report on Wednesday, October 4th. Zacks Investment Research raised Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub downgraded Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Chardan Capital reaffirmed a “buy” rating and set a $16.50 target price (down from $17.50) on shares of Amicus Therapeutics in a report on Wednesday, September 13th. Finally, Robert W. Baird upped their target price on Amicus Therapeutics from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.81.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in Amicus Therapeutics by 3,672.2% during the second quarter. BNP Paribas Arbitrage SA now owns 68,012 shares of the biopharmaceutical company’s stock worth $685,000 after acquiring an additional 66,209 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Amicus Therapeutics by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 777,146 shares of the biopharmaceutical company’s stock worth $5,541,000 after acquiring an additional 41,711 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in Amicus Therapeutics during the second quarter worth about $1,057,000. Geode Capital Management LLC raised its holdings in Amicus Therapeutics by 4.7% during the first quarter. Geode Capital Management LLC now owns 1,167,356 shares of the biopharmaceutical company’s stock worth $8,323,000 after acquiring an additional 52,003 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Amicus Therapeutics by 99.4% during the first quarter. Morgan Stanley now owns 6,128,481 shares of the biopharmaceutical company’s stock worth $43,696,000 after acquiring an additional 3,055,039 shares in the last quarter.
Shares of Amicus Therapeutics (NASDAQ FOLD) opened at 14.25 on Friday. The stock’s 50 day moving average price is $14.31 and its 200-day moving average price is $10.80. The stock’s market capitalization is $2.35 billion. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $16.60.
Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative return on equity of 61.25% and a negative net margin of 1,279.88%. The business had revenue of $7.16 million for the quarter, compared to analyst estimates of $6.96 million. During the same quarter in the prior year, the company posted ($0.40) earnings per share. Equities research analysts anticipate that Amicus Therapeutics will post ($1.32) EPS for the current fiscal year.
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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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