Amicus Therapeutics (NASDAQ:FOLD – Free Report) had its target price trimmed by Morgan Stanley from $15.00 to $14.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also weighed in on the stock. StockNews.com initiated coverage on shares of Amicus Therapeutics in a report on Thursday, October 5th. They issued a hold rating on the stock. Bank of America increased their target price on shares of Amicus Therapeutics from $16.00 to $19.00 in a report on Friday, September 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Amicus Therapeutics from $17.00 to $19.00 and gave the stock an overweight rating in a report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Amicus Therapeutics presently has an average rating of Moderate Buy and an average price target of $16.00.
View Our Latest Research Report on FOLD
Amicus Therapeutics Price Performance
Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Amicus Therapeutics had a negative net margin of 52.85% and a negative return on equity of 157.79%. The company had revenue of $94.50 million for the quarter, compared to the consensus estimate of $89.57 million. Sell-side analysts anticipate that Amicus Therapeutics will post -0.43 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Chairman John F. Crowley sold 6,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.35, for a total transaction of $80,687.40. Following the sale, the chairman now directly owns 932,141 shares in the company, valued at $12,444,082.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Bradley L. Campbell sold 11,700 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $11.24, for a total value of $131,508.00. Following the completion of the transaction, the chief executive officer now owns 792,161 shares of the company’s stock, valued at $8,903,889.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John F. Crowley sold 6,044 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.35, for a total transaction of $80,687.40. Following the completion of the transaction, the chairman now directly owns 932,141 shares of the company’s stock, valued at approximately $12,444,082.35. The disclosure for this sale can be found here. Insiders have sold a total of 122,966 shares of company stock worth $1,617,183 over the last ninety days. Company insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of FOLD. US Bancorp DE grew its position in shares of Amicus Therapeutics by 16,809.0% in the 1st quarter. US Bancorp DE now owns 15,049 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 14,960 shares during the period. MetLife Investment Management LLC raised its position in shares of Amicus Therapeutics by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 145,476 shares of the biopharmaceutical company’s stock valued at $1,378,000 after buying an additional 50,600 shares in the last quarter. Mariner LLC raised its position in shares of Amicus Therapeutics by 15.5% in the 1st quarter. Mariner LLC now owns 26,338 shares of the biopharmaceutical company’s stock valued at $249,000 after buying an additional 3,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amicus Therapeutics by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,004,734 shares of the biopharmaceutical company’s stock valued at $18,985,000 after purchasing an additional 47,117 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Amicus Therapeutics by 7.7% during the 1st quarter. UBS Group AG now owns 512,442 shares of the biopharmaceutical company’s stock valued at $4,853,000 after purchasing an additional 36,572 shares during the last quarter.
Amicus Therapeutics Company Profile
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 based on in vitro assay data.
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