Amicus Therapeutics (NASDAQ:FOLD) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.78 and traded as high as $14.29. Amicus Therapeutics shares last traded at $14.28, with a volume of 4,435,961 shares traded.

Analysts Set New Price Targets

FOLD has been the subject of several research analyst reports. Guggenheim downgraded Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Citigroup reiterated a “neutral” rating and issued a $14.50 price target (down previously from $17.00) on shares of Amicus Therapeutics in a research report on Monday, December 22nd. Wall Street Zen raised shares of Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Amicus Therapeutics in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note 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 assigned a Sell rating to the stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $15.55.

Amicus Therapeutics Price Performance

The company has a market cap of $4.49 billion, a price-to-earnings ratio of -357.41 and a beta of 0.38. The company has a current ratio of 2.99, a quick ratio of 2.09 and a debt-to-equity ratio of 1.70. The company’s 50 day moving average price is $13.13 and its 200 day moving average price is $9.84.

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

Insiders Place Their Bets

In related news, insider Ellen Rosenberg sold 36,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $10.00, for a total transaction of $360,000.00. Following the transaction, the insider owned 507,710 shares of the company’s stock, valued at $5,077,100. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Michael Clark sold 25,643 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $10.10, for a total value of $258,994.30. Following the completion of the sale, the insider directly owned 296,975 shares of the company’s stock, valued at approximately $2,999,447.50. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 394,807 shares of company stock valued at $4,486,385. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Amicus Therapeutics

Large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its holdings in Amicus Therapeutics by 450.1% during the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,677 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Amicus Therapeutics by 2,651.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,871 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,803 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Amicus Therapeutics by 167.1% in the 4th quarter. GAMMA Investing LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,243 shares during the period. Finally, Strs Ohio purchased a new position in Amicus Therapeutics in the 1st quarter valued at approximately $30,000.

About Amicus Therapeutics

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.