Cowen Reiterates Buy Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “buy” rating reiterated by equities researchers at Cowen in a report issued on Thursday, AnalystRatings.com reports. They currently have a $31.00 target price on the biopharmaceutical company’s stock. Cowen’s price objective points to a potential upside of 166.09% from the company’s current price.

A number of other analysts have also recently weighed in on FOLD. BidaskClub upgraded shares of Amicus Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Janney Montgomery Scott initiated coverage on shares of Amicus Therapeutics in a report on Friday, April 5th. They set a “buy” rating and a $13.91 target price for the company. Robert W. Baird set a $20.00 target price on shares of Amicus Therapeutics and gave the stock a “buy” rating in a report on Monday, April 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Amicus Therapeutics in a research note on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Amicus Therapeutics in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.06.

NASDAQ:FOLD traded down $0.80 during trading hours on Thursday, reaching $11.65. 2,567,848 shares of the company’s stock were exchanged, compared to its average volume of 3,191,176. The stock has a market cap of $2.86 billion, a P/E ratio of -8.76 and a beta of 1.85. Amicus Therapeutics has a 12 month low of $8.27 and a 12 month high of $15.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 7.33 and a quick ratio of 7.21. The stock has a 50-day moving average price of $12.35.

Amicus Therapeutics (NASDAQ:FOLD) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.09). The business had revenue of $34.00 million for the quarter, compared to the consensus estimate of $37.82 million. Amicus Therapeutics had a negative return on equity of 64.11% and a negative net margin of 386.18%. The business’s revenue for the quarter was up 103.6% compared to the same quarter last year. On average, sell-side analysts forecast that Amicus Therapeutics will post -1.29 EPS for the current year.

In other Amicus Therapeutics news, CEO John F. Crowley sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $12.54, for a total value of $250,800.00. Following the completion of the sale, the chief executive officer now owns 770,194 shares in the company, valued at approximately $9,658,232.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Raab sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $11.16, for a total transaction of $55,800.00. Following the completion of the sale, the director now owns 13,895 shares of the company’s stock, valued at approximately $155,068.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,000 shares of company stock valued at $779,000. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC lifted its position in Amicus Therapeutics by 8.9% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 27,924 shares of the biopharmaceutical company’s stock worth $380,000 after buying an additional 2,283 shares in the last quarter. Sageworth Trust Co bought a new position in shares of Amicus Therapeutics during the 1st quarter valued at $34,000. Rhumbline Advisers raised its holdings in shares of Amicus Therapeutics by 1.2% during the 1st quarter. Rhumbline Advisers now owns 255,343 shares of the biopharmaceutical company’s stock valued at $3,473,000 after purchasing an additional 2,989 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its holdings in shares of Amicus Therapeutics by 10.5% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 33,471 shares of the biopharmaceutical company’s stock valued at $455,000 after purchasing an additional 3,184 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Amicus Therapeutics by 18.5% during the 2nd quarter. Aperio Group LLC now owns 25,762 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 4,026 shares in the last quarter.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, engages in the discovery, development, and commercialization of medicines for various rare and orphan diseases. The company offers Galafold, an orally administered small molecule pharmacological chaperone for the treatment of Fabry disease. It is also conducting a Phase 1/2 clinical study of ATB200-02 for indications, including pompe disease.

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Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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