BTIG Research Initiates Coverage on Amicus Therapeutics (NASDAQ:FOLD)

Equities research analysts at BTIG Research assumed coverage on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research note issued on Monday, FinViz reports. The brokerage set a “buy” rating and a $15.00 price target on the biopharmaceutical company’s stock. BTIG Research’s price target would suggest a potential upside of 66.30% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group started coverage on Amicus Therapeutics in a report on Thursday, May 20th. They issued a “buy” rating and a $16.00 price target for the company. SVB Leerink restated a “hold” rating on shares of Amicus Therapeutics in a report on Thursday, June 10th. Needham & Company LLC started coverage on Amicus Therapeutics in a report on Thursday, May 27th. They issued a “hold” rating for the company. Cantor Fitzgerald upgraded Amicus Therapeutics from a “neutral” rating to an “overweight” rating in a report on Monday, April 19th. Finally, Berenberg Bank initiated coverage on Amicus Therapeutics in a research note on Thursday, July 1st. They set a “hold” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.21.

Shares of Amicus Therapeutics stock traded down $0.14 on Monday, hitting $9.02. The company’s stock had a trading volume of 58,098 shares, compared to its average volume of 2,264,675. Amicus Therapeutics has a 52-week low of $8.68 and a 52-week high of $25.39. The company has a quick ratio of 4.86, a current ratio of 5.05 and a debt-to-equity ratio of 1.55. The business has a fifty day moving average of $9.62. The stock has a market cap of $2.40 billion, a P/E ratio of -9.31 and a beta of 1.12.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Sunday, May 9th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Amicus Therapeutics had a negative net margin of 95.05% and a negative return on equity of 80.85%. The firm had revenue of $66.40 million during the quarter, compared to analyst estimates of $71.76 million. As a group, analysts expect that Amicus Therapeutics will post -0.81 earnings per share for the current year.

In other news, CEO John F. Crowley sold 7,500 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $10.28, for a total value of $77,100.00. Following the completion of the transaction, the chief executive officer now owns 884,730 shares of the company’s stock, valued at $9,095,024.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret G. Mcglynn sold 10,000 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $10.27, for a total value of $102,700.00. Following the completion of the transaction, the director now directly owns 37,919 shares of the company’s stock, valued at approximately $389,428.13. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 31,605 shares of company stock worth $278,268 and sold 104,913 shares worth $1,052,618. 2.50% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in Amicus Therapeutics during the first quarter valued at about $27,000. Harbor Investment Advisory LLC boosted its stake in Amicus Therapeutics by 76.6% during the first quarter. Harbor Investment Advisory LLC now owns 4,670 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 2,026 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Amicus Therapeutics by 95.5% during the first quarter. Lazard Asset Management LLC now owns 5,657 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 2,763 shares in the last quarter. Twin Lakes Capital Management LLC bought a new position in Amicus Therapeutics during the first quarter valued at about $59,000. Finally, Fieldpoint Private Securities LLC bought a new position in Amicus Therapeutics during the first quarter valued at about $71,000.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for people living with rare metabolic 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; gene therapies for Fabry and Pompe diseases, as well as for various types of Batten diseases; enzyme replacement therapies for Pompe diseases; and CDKL5 deficiency disorder product candidates.

Recommended Story: What is the QQQ ETF?

Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

Receive News & Ratings for Amicus Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.