BTIG Research Initiates Coverage on Amicus Therapeutics (NASDAQ:FOLD)

Equities research analysts at BTIG Research assumed coverage on shares of Amicus Therapeutics (NASDAQ:FOLD) in a research report issued to clients and investors on Monday, FinViz reports. The firm set a “buy” rating and a $15.00 price target on the biopharmaceutical company’s stock. BTIG Research’s target price suggests a potential upside of 66.30% from the stock’s current price.

FOLD has been the subject of a number of other reports. UBS Group initiated coverage on Amicus Therapeutics in a research note on Thursday, May 20th. They issued a “buy” rating and a $16.00 target price for the company. Cantor Fitzgerald raised Amicus Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Monday, April 19th. Needham & Company LLC initiated coverage on Amicus Therapeutics in a research note on Thursday, May 27th. They issued a “hold” rating for the company. Berenberg Bank initiated coverage on Amicus Therapeutics in a research note on Thursday, July 1st. They issued a “hold” rating and a $14.00 target price for the company. Finally, SVB Leerink reissued a “hold” rating on shares of Amicus Therapeutics in a research note on Thursday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Amicus Therapeutics has an average rating of “Hold” and an average target price of $19.21.

Shares of FOLD stock traded down $0.14 on Monday, reaching $9.02. 58,098 shares of the stock were exchanged, compared to its average volume of 2,264,675. The company has a market capitalization of $2.40 billion, a PE ratio of -9.31 and a beta of 1.12. Amicus Therapeutics has a one year low of $8.68 and a one year high of $25.39. The company has a current ratio of 5.05, a quick ratio of 4.86 and a debt-to-equity ratio of 1.55. The firm’s 50 day moving average price is $9.62.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Sunday, May 9th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Amicus Therapeutics had a negative return on equity of 80.85% and a negative net margin of 95.05%. The company had revenue of $66.40 million for the quarter, compared to analyst estimates of $71.76 million. As a group, analysts anticipate that Amicus Therapeutics will post -0.81 earnings per share for the current year.

In related news, CEO John F. Crowley sold 14,885 shares of the company’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $9.31, for a total transaction of $138,579.35. Following the sale, the chief executive officer now owns 862,345 shares in the company, valued at $8,028,431.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John F. Crowley sold 7,500 shares of the company’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $10.28, for a total value of $77,100.00. Following the sale, the chief executive officer now owns 884,730 shares in the company, valued at approximately $9,095,024.40. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 31,605 shares of company stock worth $278,268 and have sold 104,913 shares worth $1,052,618. Corporate insiders own 2.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new stake in Amicus Therapeutics in the first quarter valued at approximately $27,000. Harbor Investment Advisory LLC raised its stake in Amicus Therapeutics by 76.6% in the first quarter. Harbor Investment Advisory LLC now owns 4,670 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 2,026 shares during the period. Lazard Asset Management LLC raised its stake in Amicus Therapeutics by 95.5% in the first quarter. Lazard Asset Management LLC now owns 5,657 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 2,763 shares during the period. Twin Lakes Capital Management LLC bought a new stake in Amicus Therapeutics in the first quarter valued at approximately $59,000. Finally, Neo Ivy Capital Management raised its stake in Amicus Therapeutics by 107.6% in the fourth quarter. Neo Ivy Capital Management now owns 6,178 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 3,202 shares during the period.

About Amicus Therapeutics

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for people living with rare metabolic 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 based on in vitro assay data; gene therapies for Fabry and Pompe diseases, as well as for various types of Batten diseases; enzyme replacement therapies for Pompe diseases; and CDKL5 deficiency disorder product candidates.

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Analyst Recommendations for Amicus Therapeutics (NASDAQ:FOLD)

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