Amicus Therapeutics (NASDAQ:FOLD) Trading Up 7.8% After Strong Earnings

Amicus Therapeutics, Inc. (NASDAQ:FOLD) traded up 7.8% on Tuesday following a stronger than expected earnings report. The stock traded as high as $9.55 and last traded at $9.5550. 2,109,253 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 4,123,420 shares. The stock had previously closed at $8.86.

The biopharmaceutical company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.12 by $0.05. The firm had revenue of $169.06 million for the quarter, compared to the consensus estimate of $165.24 million. Amicus Therapeutics had a negative return on equity of 5.07% and a negative net margin of 6.67%.The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Amicus Therapeutics has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

Several brokerages have commented on FOLD. Wall Street Zen upgraded shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Zacks Research raised Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Needham & Company LLC raised Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. lifted their price objective on shares of Amicus Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Activity at Amicus Therapeutics

In related news, insider David Michael Clark sold 25,643 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $9.51, for a total transaction of $243,864.93. Following the sale, the insider directly owned 322,618 shares of the company’s stock, valued at $3,068,097.18. This represents a 7.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Amicus Therapeutics

Hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new position in shares of Amicus Therapeutics during the first quarter valued at approximately $30,000. Osaic Holdings Inc. increased its holdings in shares of Amicus Therapeutics by 450.1% during the 2nd quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 3,358 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Amicus Therapeutics by 472.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,677 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Amicus Therapeutics by 211.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 3,497 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of 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 buying an additional 4,387 shares during the period.

Amicus Therapeutics Trading Down 3.2%

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 business’s 50-day moving average price is $8.28 and its 200-day moving average price is $7.07. The firm has a market capitalization of $2.74 billion, a PE ratio of -74.16 and a beta of 0.66.

Amicus Therapeutics Company Profile

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.