Citigroup Initiates Coverage on Amicus Therapeutics (NASDAQ:FOLD)

Stock analysts at Citigroup started coverage on shares of Amicus Therapeutics (NASDAQ:FOLD) in a report issued on Wednesday. The brokerage set a “buy” rating and a $17.00 price target on the biopharmaceutical company’s stock. Citigroup’s target price suggests a potential upside of 56.11% from the company’s previous close.

A number of other brokerages have also commented on FOLD. Wall Street Zen upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Needham & Company LLC upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.29.

Amicus Therapeutics Stock Up 0.1%

NASDAQ:FOLD opened at $10.89 on Wednesday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -272.18 and a beta of 0.46. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.09 and a current ratio of 2.99. The stock’s fifty day moving average price is $9.25 and its two-hundred day moving average price is $7.72. Amicus Therapeutics has a 52-week low of $5.51 and a 52-week high of $11.14.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a positive return on equity of 6.95% and a negative net margin of 2.35%.The company had revenue of $169.06 million during the quarter, compared to analysts’ expectations of $165.24 million. During the same period last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that Amicus Therapeutics will post 0.15 EPS for the current year.

Insider Buying and Selling

In related news, insider Ellen Rosenberg sold 23,621 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $10.00, for a total value of $236,210.00. Following the completion of the transaction, the insider directly owned 507,710 shares of the company’s stock, valued at approximately $5,077,100. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradley L. Campbell sold 14,587 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $10.01, for a total transaction of $146,015.87. Following the transaction, the chief executive officer owned 1,137,282 shares in the company, valued at approximately $11,384,192.82. The trade was a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 216,239 shares of company stock worth $2,165,304. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Amicus Therapeutics during the third quarter worth approximately $43,000. Tudor Investment Corp ET AL increased its holdings in shares of Amicus Therapeutics by 5.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 168,984 shares of the biopharmaceutical company’s stock worth $1,332,000 after acquiring an additional 9,487 shares during the last quarter. Allworth Financial LP raised its stake in Amicus Therapeutics by 36.3% in the 3rd quarter. Allworth Financial LP now owns 4,678 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,246 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in Amicus Therapeutics during the 3rd quarter valued at $83,000. Finally, CIBC Bancorp USA Inc. bought a new position in Amicus Therapeutics during the third quarter worth $234,000.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.