Amicus Therapeutics, Inc. (FOLD) Hits New 52-Week High Following Analyst Upgrade

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.

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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.

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