Amicus Therapeutics (FOLD) Rating Reiterated by Chardan Capital

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Chardan Capital reaffirmed their hold rating on shares of Amicus Therapeutics (NASDAQ:FOLD) in a report issued on Friday morning. They currently have a $15.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Amicus Therapeutics from a buy rating to a hold rating in a research note on Friday, August 10th. BidaskClub downgraded shares of Amicus Therapeutics from a sell rating to a strong sell rating in a research note on Saturday, August 18th. Finally, ValuEngine upgraded shares of Amicus Therapeutics from a buy rating to a strong-buy rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $21.00.

Shares of NASDAQ:FOLD traded up $0.64 during trading on Friday, hitting $12.39. The company’s stock had a trading volume of 2,720,554 shares, compared to its average volume of 2,640,494. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -4.24 and a beta of 1.33. The company has a quick ratio of 10.73, a current ratio of 10.88 and a debt-to-equity ratio of 0.30. Amicus Therapeutics has a fifty-two week low of $11.57 and a fifty-two week high of $17.62.

Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.33) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.33). The business had revenue of $21.31 million during the quarter, compared to the consensus estimate of $18.92 million. Amicus Therapeutics had a negative net margin of 460.04% and a negative return on equity of 53.45%. On average, analysts expect that Amicus Therapeutics will post -1.19 EPS for the current year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 500,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was acquired at an average cost of $12.00 per share, with a total value of $6,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Perceptive Advisors Llc acquired 20,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were purchased at an average cost of $12.45 per share, with a total value of $249,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 620,000 shares of company stock valued at $7,505,000. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FOLD. Morgan Stanley lifted its position in shares of Amicus Therapeutics by 519.6% during the 2nd quarter. Morgan Stanley now owns 4,968,627 shares of the biopharmaceutical company’s stock worth $77,610,000 after purchasing an additional 4,166,756 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Amicus Therapeutics during the 1st quarter worth $22,662,000. BlackRock Inc. lifted its position in shares of Amicus Therapeutics by 10.1% during the 1st quarter. BlackRock Inc. now owns 15,090,252 shares of the biopharmaceutical company’s stock worth $226,957,000 after purchasing an additional 1,378,155 shares during the last quarter. Novo Holdings A S purchased a new stake in shares of Amicus Therapeutics during the 2nd quarter worth $16,888,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Amicus Therapeutics during the 2nd quarter worth $11,048,000.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers migalastat HCl, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 to investigate in patients with pompe disease.

Further Reading: Understanding Price to Earnings Ratio (PE)

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