Bank of America Boosts Amicus Therapeutics (NASDAQ:FOLD) Price Target to $15.00

Amicus Therapeutics (NASDAQ:FOLD) had its target price hoisted by Bank of America from $13.00 to $15.00 in a research note issued to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on FOLD. JPMorgan Chase & Co. decreased their price target on shares of Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. StockNews.com cut shares of Amicus Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 price target on shares of Amicus Therapeutics in a report on Friday, September 20th. Morgan Stanley cut their price objective on Amicus Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amicus Therapeutics in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Amicus Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

Amicus Therapeutics Stock Performance

Shares of NASDAQ:FOLD opened at $11.90 on Thursday. Amicus Therapeutics has a 1 year low of $9.02 and a 1 year high of $14.57. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -24.29 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26. The company’s 50 day simple moving average is $11.17 and its 200 day simple moving average is $10.56.

Amicus Therapeutics (NASDAQ:FOLD) last issued its quarterly 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 return on equity of 41.47% and a negative net margin of 26.23%. The company had revenue of $126.67 million for the quarter, compared to analyst estimates of $121.21 million. During the same quarter last year, the company posted ($0.15) EPS. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, research analysts predict that Amicus Therapeutics will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Amicus Therapeutics news, CEO Bradley L. Campbell sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.71, for a total transaction of $87,825.00. Following the completion of the sale, the chief executive officer now owns 886,654 shares of the company’s stock, valued at approximately $10,382,718.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 22,500 shares of company stock valued at $244,875 over the last ninety days. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amicus Therapeutics

Hedge funds have recently bought and sold shares of the company. Xponance Inc. boosted its position in Amicus Therapeutics by 5.3% during the second quarter. Xponance Inc. now owns 18,555 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 936 shares during the last quarter. American International Group Inc. lifted its stake in Amicus Therapeutics by 0.9% in the fourth quarter. American International Group Inc. now owns 141,249 shares of the biopharmaceutical company’s stock valued at $2,004,000 after buying an additional 1,298 shares during the period. Arizona State Retirement System boosted its holdings in shares of Amicus Therapeutics by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 62,020 shares of the biopharmaceutical company’s stock worth $615,000 after buying an additional 1,577 shares in the last quarter. Diversified Trust Co grew its position in shares of Amicus Therapeutics by 3.8% during the 3rd quarter. Diversified Trust Co now owns 74,501 shares of the biopharmaceutical company’s stock worth $796,000 after buying an additional 2,698 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Amicus Therapeutics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 240,813 shares of the biopharmaceutical company’s stock valued at $2,389,000 after acquiring an additional 2,737 shares in 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.