Zacks Investment Research upgraded shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $16.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “AMICUS THERAPEUTICS is a biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Pharmacological chaperone technology involves the use of small molecules that selectively bind to and stabilize proteins in cells, leading to improved protein folding and trafficking, and increased activity. Amicus is initially targeting lysosomal storage disorders, which are severe, chronic genetic diseases with unmet medical needs. Amicus has completed Phase 2 clinical trials of Amigal(TM) for the treatment of Fabry disease and is conducting Phase 2 clinical trials of Plicera(TM) for the treatment of Gaucher disease. “
A number of other equities research analysts also recently weighed in on FOLD. BidaskClub downgraded shares of Amicus Therapeutics from a buy rating to a hold rating in a research note on Friday, August 11th. Chardan Capital lifted their price target on shares of Amicus Therapeutics from $12.50 to $17.50 and gave the stock a buy rating in a research note on Thursday, August 10th. Leerink Swann reiterated a buy rating and set a $20.00 price target (up previously from $17.00) on shares of Amicus Therapeutics in a research note on Wednesday, October 4th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and set a $17.00 price target on shares of Amicus Therapeutics in a research note on Friday, October 6th. Finally, J P Morgan Chase & Co reiterated an overweight rating and set a $15.00 price target (up previously from $13.00) on shares of Amicus Therapeutics in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $17.81.
Amicus Therapeutics (NASDAQ FOLD) opened at 14.45 on Tuesday. The firm’s 50-day moving average is $14.22 and its 200-day moving average is $10.75. The company’s market capitalization is $2.38 billion. Amicus Therapeutics has a 1-year low of $4.41 and a 1-year high of $16.60.
Amicus Therapeutics (NASDAQ:FOLD) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.03. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. The firm had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.96 million. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Equities research analysts predict that Amicus Therapeutics will post ($1.32) EPS for the current year.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.themarketsdaily.com/2017/10/11/amicus-therapeutics-inc-fold-upgraded-by-zacks-investment-research-to-buy.html.
In other news, major shareholder Life Sciences Maste Perceptive bought 1,500,000 shares of Amicus Therapeutics stock in a transaction dated Thursday, July 13th. The shares were bought at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Bank of Nova Scotia acquired a new stake in shares of Amicus Therapeutics in the 2nd quarter valued at $1,944,000. Redmile Group LLC boosted its stake in shares of Amicus Therapeutics by 5.9% in the 2nd quarter. Redmile Group LLC now owns 12,043,932 shares of the biopharmaceutical company’s stock valued at $121,282,000 after purchasing an additional 668,080 shares in the last quarter. State Street Corp boosted its stake in shares of Amicus Therapeutics by 2.2% in the 2nd quarter. State Street Corp now owns 5,892,564 shares of the biopharmaceutical company’s stock valued at $59,332,000 after purchasing an additional 125,635 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Amicus Therapeutics in the 2nd quarter valued at $308,000. Finally, Palo Alto Investors LLC boosted its stake in shares of Amicus Therapeutics by 0.7% in the 2nd quarter. Palo Alto Investors LLC now owns 7,940,788 shares of the biopharmaceutical company’s stock valued at $79,964,000 after purchasing an additional 57,800 shares in the last quarter.
About Amicus Therapeutics
Amicus Therapeutics, Inc is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease.
Receive News & Ratings for Amicus Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amicus Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.