Amicus Therapeutics (NASDAQ:FOLD) Reaches New 12-Month High – Here’s What Happened

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price hit a new 52-week high on Monday . The company traded as high as $14.43 and last traded at $14.4050, with a volume of 2213 shares traded. The stock had previously closed at $14.43.

Analyst Upgrades and Downgrades

FOLD has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $14.50 price target (down from $16.00) on shares of Amicus Therapeutics in a research note on Thursday, January 22nd. Guggenheim cut Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Leerink Partners cut Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $17.00 to $14.50 in a report on Monday, December 29th. Zacks Research cut shares of Amicus Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Cantor Fitzgerald downgraded shares of Amicus Therapeutics from an “overweight” rating to a “hold” rating and decreased their price target for the company from $21.00 to $14.50 in a research note on Friday, December 19th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.39.

Amicus Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.88 and a current ratio of 2.84. The company has a market capitalization of $4.52 billion, a P/E ratio of -179.94 and a beta of 0.43. The firm’s fifty day moving average is $14.33 and its 200 day moving average is $11.43.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported $0.10 earnings per share (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 firm had revenue of $185.21 million during the quarter, compared to the consensus estimate of $185.00 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, analysts predict that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Bradley L. Campbell sold 22,500 shares of Amicus Therapeutics stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Amicus Therapeutics by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 29,702,696 shares of the biopharmaceutical company’s stock valued at $422,966,000 after purchasing an additional 168,667 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Amicus Therapeutics by 7.6% during the 3rd quarter. William Blair Investment Management LLC now owns 15,749,240 shares of the biopharmaceutical company’s stock worth $124,104,000 after buying an additional 1,107,083 shares in the last quarter. HBK Investments L P purchased a new position in shares of Amicus Therapeutics during the fourth quarter valued at $217,160,000. State Street Corp raised its holdings in shares of Amicus Therapeutics by 28.3% in the fourth quarter. State Street Corp now owns 14,833,314 shares of the biopharmaceutical company’s stock valued at $211,226,000 after acquiring an additional 3,270,375 shares in the last quarter. Finally, Vestal Point Capital LP raised its holdings in shares of Amicus Therapeutics by 178.4% in the second quarter. Vestal Point Capital LP now owns 11,900,000 shares of the biopharmaceutical company’s stock valued at $68,187,000 after acquiring an additional 7,625,000 shares in the last quarter.

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.