Wall Street Zen Upgrades Amicus Therapeutics (NASDAQ:FOLD) to Strong-Buy

Amicus Therapeutics (NASDAQ:FOLD) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other analysts have also recently weighed in on FOLD. The Goldman Sachs Group increased their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley raised Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 17th. Needham & Company LLC upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday, September 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Amicus Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Amicus Therapeutics Trading Down 0.3%

NASDAQ FOLD opened at $8.87 on Friday. The firm’s fifty day moving average price is $8.30 and its 200 day moving average price is $7.09. Amicus Therapeutics has a 12 month low of $5.51 and a 12 month high of $11.36. The company has a debt-to-equity ratio of 1.92, a current ratio of 3.21 and a quick ratio of 2.29. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -73.91 and a beta of 0.66.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $169.06 million for the quarter, compared to analyst estimates of $165.24 million. Amicus Therapeutics had a negative net margin of 6.67% and a negative return on equity of 5.07%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. Amicus Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Amicus Therapeutics will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Amicus Therapeutics

In other news, insider David Michael Clark sold 25,643 shares of Amicus Therapeutics stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $9.51, for a total transaction of $243,864.93. Following the completion of the sale, the insider directly owned 322,618 shares in the company, valued at $3,068,097.18. The trade was a 7.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Amicus Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in shares of Amicus Therapeutics by 450.1% during the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 3,358 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,677 shares during the last quarter. Strs Ohio acquired a new stake in shares of Amicus Therapeutics in the first quarter worth approximately $30,000. Versant Capital Management Inc increased its position in Amicus Therapeutics by 499.1% during the third quarter. Versant Capital Management Inc now owns 5,266 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,387 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Amicus Therapeutics by 211.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 3,497 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.