Amicus Therapeutics (NASDAQ:FOLD) Reaches New 12-Month High – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week high on Wednesday . The company traded as high as $14.39 and last traded at $14.3850, with a volume of 985918 shares traded. The stock had previously closed at $14.36.

Wall Street Analysts Forecast Growth

Several analysts have commented on FOLD shares. Zacks Research downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Citigroup restated a “neutral” rating and issued a $14.50 price target (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $14.50 price target (down from $16.00) on shares of Amicus Therapeutics in a report on Thursday, January 22nd. Cantor Fitzgerald cut Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their price objective for the company from $21.00 to $14.50 in a research report on Friday, December 19th. Finally, Leerink Partners lowered Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.00 to $14.50 in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.39.

Amicus Therapeutics Stock Up 0.2%

The company has a quick ratio of 1.88, a current ratio of 2.84 and a debt-to-equity ratio of 1.43. The company has a market cap of $4.52 billion, a PE ratio of -179.81 and a beta of 0.43. The company’s fifty day moving average is $14.31 and its 200-day moving average is $11.05.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The company had revenue of $185.21 million for the quarter, compared to analysts’ expectations of $185.00 million. Amicus Therapeutics had a negative net margin of 4.27% and a positive return on equity of 4.15%. Amicus Therapeutics’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, analysts predict that Amicus Therapeutics, Inc. will post 0.15 EPS for the current year.

Insiders Place Their Bets

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 22,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $14.35, for a total value of $322,875.00. Following the transaction, the chief executive officer directly owned 998,680 shares of the company’s stock, valued at approximately $14,331,058. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Michael Clark sold 25,642 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $14.17, for a total value of $363,347.14. Following the sale, the insider owned 245,690 shares of the company’s stock, valued at approximately $3,481,427.30. This represents a 9.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 226,711 shares of company stock valued at $2,887,822. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several institutional investors have recently made changes to their positions in FOLD. Norges Bank purchased a new stake in Amicus Therapeutics during the second quarter valued at approximately $18,540,000. Jump Financial LLC boosted its stake in shares of Amicus Therapeutics by 246.3% during the 2nd quarter. Jump Financial LLC now owns 1,406,563 shares of the biopharmaceutical company’s stock worth $8,060,000 after acquiring an additional 1,000,395 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Amicus Therapeutics during the 3rd quarter valued at $7,843,000. Principal Financial Group Inc. increased its stake in shares of Amicus Therapeutics by 1,229.5% in the 3rd quarter. Principal Financial Group Inc. now owns 263,325 shares of the biopharmaceutical company’s stock worth $2,075,000 after purchasing an additional 243,519 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new stake in shares of Amicus Therapeutics in the 2nd quarter worth $201,000.

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.