Amicus Therapeutics (NASDAQ:FOLD) Shares Gap Up – Here’s Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $10.82. Amicus Therapeutics shares last traded at $11.35, with a volume of 552,969 shares.

Analysts Set New Price Targets

FOLD has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Amicus Therapeutics in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 target price for the company. StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, Morgan Stanley decreased their price target on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.88.

Amicus Therapeutics Stock Performance

The company has a market capitalization of $3.53 billion, a PE ratio of -23.16 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75. The company has a 50 day moving average price of $11.15 and a 200 day moving average price of $10.55.

Amicus Therapeutics (NASDAQ:FOLD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $126.67 million during the quarter, compared to analysts’ expectations of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The business’s revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. Equities analysts forecast that Amicus Therapeutics, Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total transaction of $87,825.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $10,382,718.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 22,500 shares of company stock worth $244,875 over the last ninety days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Several large investors have recently added to or reduced their stakes in FOLD. Headlands Technologies LLC acquired a new stake in Amicus Therapeutics in the second quarter worth $89,000. Sage Capital Advisors llc acquired a new stake in Amicus Therapeutics in the second quarter worth $103,000. Sanctuary Advisors LLC acquired a new position in shares of Amicus Therapeutics during the second quarter valued at $138,000. EntryPoint Capital LLC increased its holdings in shares of Amicus Therapeutics by 278.8% during the first quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 9,729 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Amicus Therapeutics by 5.3% during the second quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 936 shares during the period.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.