Amicus Therapeutics (NASDAQ:FOLD) Sees Large Volume Increase – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) saw an uptick in trading volume on Friday . 20,212,447 shares were traded during trading, an increase of 106% from the previous session’s volume of 9,796,602 shares.The stock last traded at $14.2850 and had previously closed at $14.28.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Citigroup reiterated a “neutral” rating and set a $14.50 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Guggenheim cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Zacks Research lowered Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amicus Therapeutics has an average rating of “Hold” and an average price target of $15.55.

Amicus Therapeutics Stock Performance

The company has a quick ratio of 2.09, a current ratio of 2.99 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $4.48 billion, a PE ratio of -357.04 and a beta of 0.38. The firm has a 50 day moving average price of $13.05 and a 200-day moving average price of $9.78.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. The company had revenue of $169.06 million for the quarter, compared to the consensus estimate of $165.24 million. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. Amicus Therapeutics’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Research analysts expect that Amicus Therapeutics, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Amicus Therapeutics

In other news, insider Ellen Rosenberg sold 36,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $10.00, for a total value of $360,000.00. Following the sale, the insider owned 507,710 shares in the company, valued at $5,077,100. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Michael Clark sold 25,643 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.10, for a total value of $258,994.30. Following the sale, the insider directly owned 296,975 shares in the company, valued at approximately $2,999,447.50. This trade represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 394,807 shares of company stock valued at $4,486,385. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds have recently bought and sold shares of FOLD. Vestal Point Capital LP increased its holdings in shares of Amicus Therapeutics by 178.4% during the 2nd quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after purchasing an additional 7,625,000 shares in the last quarter. UBS Group AG increased its holdings in Amicus Therapeutics by 240.5% in the fourth quarter. UBS Group AG now owns 5,893,288 shares of the biopharmaceutical company’s stock valued at $83,920,000 after buying an additional 4,162,433 shares in the last quarter. Norges Bank acquired a new position in shares of Amicus Therapeutics in the second quarter worth about $18,540,000. Qube Research & Technologies Ltd grew its position in shares of Amicus Therapeutics by 223.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,466,911 shares of the biopharmaceutical company’s stock valued at $19,865,000 after acquiring an additional 2,396,410 shares during the period. Finally, State Street Corp increased its stake in shares of Amicus Therapeutics by 21.5% in the 2nd quarter. State Street Corp now owns 11,568,097 shares of the biopharmaceutical company’s stock valued at $66,285,000 after purchasing an additional 2,049,078 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics (NASDAQ:FOLD) is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for rare and orphan diseases. The company specializes in pharmacological chaperones and gene therapy approaches designed to address the underlying causes of lysosomal storage disorders. Its proprietary technology platform integrates structure‐based drug design with precision medicine to identify small molecules that stabilize misfolded proteins and restore cellular function.

The company’s lead marketed product, Galafold (migalastat), is an oral pharmacological chaperone approved in the United States, European Union and other territories for the treatment of Fabry disease in patients with amenable genetic variants.