Amicus Therapeutics (FOLD) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Amicus Therapeutics (NASDAQ:FOLD) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

FOLD has been the topic of a number of other research reports. Zacks Investment Research raised shares of Amicus Therapeutics from a sell rating to a hold rating in a report on Thursday, May 10th. ValuEngine raised shares of Amicus Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Robert W. Baird set a $20.00 price objective on shares of Amicus Therapeutics and gave the stock a buy rating in a report on Wednesday, February 7th. Cowen reissued a buy rating and issued a $22.00 price objective on shares of Amicus Therapeutics in a report on Tuesday, May 8th. Finally, Leerink Swann raised their price objective on shares of Amicus Therapeutics from $20.00 to $24.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $19.06.

Shares of Amicus Therapeutics opened at $16.74 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.21 and a quick ratio of 4.15. Amicus Therapeutics has a 52-week low of $7.46 and a 52-week high of $17.40.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. The firm had revenue of $16.70 million for the quarter, compared to the consensus estimate of $16.78 million. Amicus Therapeutics had a negative net margin of 563.98% and a negative return on equity of 60.09%. research analysts forecast that Amicus Therapeutics will post -1.26 earnings per share for the current fiscal year.

In related news, SVP Daphne Quimi sold 8,149 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $14.06, for a total value of $114,574.94. Following the transaction, the senior vice president now owns 72,481 shares of the company’s stock, valued at $1,019,082.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William D. Baird III sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $14.26, for a total transaction of $142,600.00. Following the sale, the chief financial officer now owns 127,662 shares in the company, valued at approximately $1,820,460.12. The disclosure for this sale can be found here. In the last three months, insiders sold 136,899 shares of company stock worth $2,035,875. 3.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOLD. Carillon Tower Advisers Inc. bought a new stake in Amicus Therapeutics during the 4th quarter worth approximately $26,756,000. Lord Abbett & CO. LLC bought a new stake in Amicus Therapeutics during the 1st quarter worth approximately $22,662,000. BlackRock Inc. raised its stake in Amicus Therapeutics by 10.1% during the 1st quarter. BlackRock Inc. now owns 15,090,252 shares of the biopharmaceutical company’s stock worth $226,957,000 after acquiring an additional 1,378,155 shares during the period. Millennium Management LLC bought a new stake in Amicus Therapeutics during the 4th quarter worth approximately $18,974,000. Finally, Sphera Funds Management LTD. raised its stake in Amicus Therapeutics by 67.8% during the 1st quarter. Sphera Funds Management LTD. now owns 1,845,704 shares of the biopharmaceutical company’s stock worth $27,759,000 after acquiring an additional 745,704 shares during the period.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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