Amicus Therapeutics (NASDAQ:FOLD) Reaches New 52-Week High – Here’s Why

Amicus Therapeutics, Inc. (NASDAQ:FOLD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.36 and last traded at $14.3550, with a volume of 7572094 shares. The stock had previously closed at $14.32.

Analyst Upgrades and Downgrades

FOLD has been the subject of several recent research reports. Leerink Partners downgraded Amicus Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.00 to $14.50 in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Cantor Fitzgerald lowered 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. Citigroup restated a “neutral” rating and set a $14.50 price objective (down previously from $17.00) on shares of Amicus Therapeutics in a report on Monday, December 22nd. Finally, Zacks Research upgraded shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amicus Therapeutics has a consensus rating of “Hold” and a consensus target price of $15.67.

Amicus Therapeutics Trading Up 0.1%

The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.09 and a current ratio of 2.99. The firm has a market capitalization of $4.42 billion, a P/E ratio of -358.16 and a beta of 0.42. The firm has a 50 day simple moving average of $11.73 and a two-hundred day simple moving average of $8.98.

Amicus Therapeutics (NASDAQ:FOLD) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a negative net margin of 2.35% and a positive return on equity of 6.95%. The firm had revenue of $169.06 million during the quarter, compared to analyst estimates of $165.24 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Amicus Therapeutics, Inc. will post 0.15 earnings per share for the current year.

Insider Activity

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 77,926 shares of Amicus Therapeutics stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $10.86, for a total transaction of $846,276.36. Following the transaction, the chief executive officer owned 1,129,782 shares of the company’s stock, valued at $12,269,432.52. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff Castelli sold 76,158 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $10.16, for a total value of $773,765.28. Following the completion of the transaction, the insider directly owned 439,318 shares of the company’s stock, valued at approximately $4,463,470.88. This represents a 14.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 345,450 shares of company stock worth $3,657,000. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Amicus Therapeutics

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Amicus Therapeutics by 7.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,577 shares of the biopharmaceutical company’s stock worth $22,061,000 after buying an additional 194,213 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Amicus Therapeutics by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,072,474 shares of the biopharmaceutical company’s stock worth $8,751,000 after acquiring an additional 113,803 shares during the period. Intech Investment Management LLC boosted its stake in Amicus Therapeutics by 37.1% in the first quarter. Intech Investment Management LLC now owns 170,922 shares of the biopharmaceutical company’s stock valued at $1,395,000 after acquiring an additional 46,218 shares during the last quarter. Strs Ohio bought a new position in shares of Amicus Therapeutics during the 1st quarter valued at approximately $30,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Amicus Therapeutics by 641.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,533,854 shares of the biopharmaceutical company’s stock valued at $20,249,000 after acquiring an additional 3,057,072 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.