Amicus Therapeutics (NASDAQ:FOLD) Hits New 52-Week High – Time to Buy?

Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week high on Tuesday . The stock traded as high as $14.40 and last traded at $14.3760, with a volume of 491 shares. The stock had previously closed at $14.37.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FOLD shares. Citigroup reissued a “neutral” rating and issued a $14.50 price objective (down from $17.00) on shares of Amicus Therapeutics in a research note on Monday, December 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $14.50 price target (down from $16.00) on shares of Amicus Therapeutics in a research report on Thursday, January 22nd. Needham & Company LLC cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 19th. Guggenheim lowered shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amicus Therapeutics in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Amicus Therapeutics has a consensus rating of “Hold” and an average target price of $15.39.

Amicus Therapeutics Trading Up 0.0%

The company has a market capitalization of $4.51 billion, a P/E ratio of -179.75 and a beta of 0.43. The company has a 50-day simple moving average of $14.32 and a 200 day simple moving average of $11.24. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84.

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

Insider Buying and Selling at Amicus Therapeutics

In other news, 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 transaction of $363,347.14. Following the transaction, the insider owned 245,690 shares in the company, valued at approximately $3,481,427.30. The trade was a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bradley L. Campbell sold 22,500 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $14.35, for a total transaction of $322,875.00. Following the completion of the sale, the chief executive officer owned 998,680 shares of the company’s stock, valued at approximately $14,331,058. The trade was a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,142 shares of company stock worth $1,759,472 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

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

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.