Cantor Fitzgerald Forecasts Strong Price Appreciation for Amicus Therapeutics (NASDAQ:FOLD) Stock

Amicus Therapeutics (NASDAQ:FOLD) had its price target boosted by stock analysts at Cantor Fitzgerald from $20.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 92.66% from the stock’s previous close.

A number of other research firms also recently weighed in on FOLD. Morgan Stanley dropped their price target on shares of Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday. StockNews.com downgraded shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group started coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Bank of America upped their price target on shares of Amicus Therapeutics from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Amicus Therapeutics Stock Down 3.0 %

NASDAQ:FOLD traded down $0.34 during trading hours on Thursday, hitting $10.90. 1,311,561 shares of the stock traded hands, compared to its average volume of 2,716,691. The firm has a 50 day moving average price of $11.15 and a 200 day moving average price of $10.61. The company has a current ratio of 2.75, a quick ratio of 2.26 and a debt-to-equity ratio of 2.93. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -27.92 and a beta of 0.68.

Amicus Therapeutics (NASDAQ:FOLD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Amicus Therapeutics had a negative net margin of 26.23% and a negative return on equity of 41.47%. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. During the same period in the previous year, the business earned ($0.15) EPS. The company’s revenue was up 34.0% on a year-over-year basis. Equities research analysts anticipate that Amicus Therapeutics will post -0.06 earnings per share for the current year.

Insider Buying and Selling at Amicus Therapeutics

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.60, for a total transaction of $79,500.00. Following the completion of the sale, the chief executive officer now directly owns 886,654 shares in the company, valued at $9,398,532.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 22,500 shares of company stock worth $253,275 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of Amicus Therapeutics during the second quarter valued at about $8,386,000. M&G Plc raised its position in shares of Amicus Therapeutics by 12.4% during the second quarter. M&G Plc now owns 748,451 shares of the biopharmaceutical company’s stock valued at $7,485,000 after buying an additional 82,728 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Amicus Therapeutics by 1,290.4% during the first quarter. Edgestream Partners L.P. now owns 270,164 shares of the biopharmaceutical company’s stock valued at $3,183,000 after buying an additional 250,734 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Amicus Therapeutics by 7.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 100,538 shares of the biopharmaceutical company’s stock valued at $1,183,000 after buying an additional 7,304 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of Amicus Therapeutics by 1.1% during the second quarter. Fiera Capital Corp now owns 5,280,442 shares of the biopharmaceutical company’s stock valued at $52,382,000 after buying an additional 58,113 shares during the last quarter.

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.