Amicus Therapeutics (NASDAQ:FOLD) Hits New 1-Year High – Time to Buy?

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $14.47 and last traded at $14.4550, with a volume of 169293 shares changing hands. The stock had previously closed at $14.45.

Wall Street Analysts Forecast Growth

FOLD has been the subject of a number of research reports. Zacks Research lowered shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Guggenheim lowered shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Cantor Fitzgerald lowered shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and dropped their target price for the stock from $21.00 to $14.50 in a report on Friday, December 19th. Needham & Company LLC lowered shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Leerink Partners lowered shares of Amicus Therapeutics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $17.00 to $14.50 in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Trading Up 0.0%

The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of -180.69 and a beta of 0.48. The company has a fifty day moving average price of $14.35 and a two-hundred day moving average price of $11.93. The company has a current ratio of 2.84, a quick ratio of 1.88 and a debt-to-equity ratio of 1.43.

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

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 75,000 shares of Amicus Therapeutics stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $14.31, for a total transaction of $1,073,250.00. Following the transaction, the chief executive officer owned 1,021,180 shares in the company, valued at $14,613,085.80. The trade was a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Amicus Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Amicus Therapeutics during the 4th quarter worth approximately $14,240,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Amicus Therapeutics during the 4th quarter worth approximately $60,000. Seven Fleet Capital Management LP purchased a new position in shares of Amicus Therapeutics during the 4th quarter worth $1,175,000. Virtu Financial LLC grew its holdings in shares of Amicus Therapeutics by 177.7% during the 4th quarter. Virtu Financial LLC now owns 117,063 shares of the biopharmaceutical company’s stock worth $1,667,000 after purchasing an additional 74,902 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Amicus Therapeutics by 172.6% during the 4th quarter. Invesco Ltd. now owns 1,259,225 shares of the biopharmaceutical company’s stock worth $17,931,000 after purchasing an additional 797,255 shares during the period.

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.