Shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD) hit a new 52-week high during trading on Wednesday after Bank of America Corporation raised their price target on the stock from $15.00 to $20.00. Bank of America Corporation currently has a buy rating on the stock. Amicus Therapeutics traded as high as $16.16 and last traded at $16.24, with a volume of 10,557,300 shares trading hands. The stock had previously closed at $14.87.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Amicus Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub upgraded Amicus Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and issued a $12.00 target price on shares of Amicus Therapeutics in a research note on Friday, June 30th. Chardan Capital restated a “buy” rating and issued a $16.50 target price (down from $17.50) on shares of Amicus Therapeutics in a research note on Wednesday, September 13th. Finally, ValuEngine upgraded Amicus Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.25.
In related news, major shareholder Life Sciences Maste Perceptive purchased 1,500,000 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was acquired at an average price of $12.25 per share, for a total transaction of $18,375,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FOLD. Teacher Retirement System of Texas boosted its stake in Amicus Therapeutics by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,243 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 169 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Amicus Therapeutics during the 2nd quarter valued at about $111,000. Tudor Investment Corp ET AL acquired a new position in Amicus Therapeutics during the 2nd quarter valued at about $124,000. Aperio Group LLC boosted its stake in Amicus Therapeutics by 13.5% during the 2nd quarter. Aperio Group LLC now owns 13,986 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in Amicus Therapeutics during the 2nd quarter valued at about $145,000.
The stock’s 50-day moving average price is $14.03 and its 200-day moving average price is $10.53. The company’s market capitalization is $2.63 billion.
Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data 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. The business had revenue of $7.16 million for the quarter, compared to analysts’ expectations of $6.96 million. Amicus Therapeutics had a negative net margin of 1,279.88% and a negative return on equity of 61.25%. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Analysts expect that Amicus Therapeutics, Inc. will post ($1.32) earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.chaffeybreeze.com/2017/10/06/amicus-therapeutics-inc-fold-hits-new-52-week-high-following-analyst-upgrade.html.
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.