JPMorgan Chase & Co. Increases Amicus Therapeutics (NASDAQ:FOLD) Price Target to $19.00

Amicus Therapeutics (NASDAQ:FOLD) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $18.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 114.21% from the company’s current price.

A number of other equities research analysts also recently weighed in on FOLD. The Goldman Sachs Group boosted their price target on Amicus Therapeutics from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, September 18th. Wall Street Zen raised shares of Amicus Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Morgan Stanley upgraded shares of Amicus Therapeutics from an “equal weight” rating to an “overweight” rating in a research report on Thursday, July 17th. Finally, Zacks Research raised shares of Amicus Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.57.

Amicus Therapeutics Stock Performance

Shares of Amicus Therapeutics stock opened at $8.87 on Thursday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.29 and a current ratio of 3.21. Amicus Therapeutics has a 1 year low of $5.51 and a 1 year high of $11.36. The firm’s 50-day simple moving average is $8.30 and its 200-day simple moving average is $7.09. The firm has a market cap of $2.73 billion, a PE ratio of -73.91 and a beta of 0.66.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. Amicus Therapeutics had a negative return on equity of 5.07% and a negative net margin of 6.67%.The firm had revenue of $169.06 million during the quarter, compared to analyst estimates of $165.24 million. During the same period in the previous year, the company earned $0.10 earnings per share. Amicus Therapeutics’s quarterly revenue was up 19.5% on a year-over-year basis. Amicus Therapeutics has set its FY 2025 guidance at EPS. Equities analysts forecast that Amicus Therapeutics will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Amicus Therapeutics

In related news, insider David Michael Clark sold 25,643 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $9.51, for a total value of $243,864.93. Following the sale, the insider owned 322,618 shares of the company’s stock, valued at $3,068,097.18. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in shares of Amicus Therapeutics by 450.1% in the second quarter. Osaic Holdings Inc. now owns 4,104 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 3,358 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Amicus Therapeutics by 472.6% during the second quarter. EverSource Wealth Advisors LLC now owns 4,455 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,677 shares during the last quarter. Strs Ohio acquired a new position in shares of Amicus Therapeutics during the first quarter worth approximately $30,000. Versant Capital Management Inc boosted its position in shares of Amicus Therapeutics by 499.1% during the third quarter. Versant Capital Management Inc now owns 5,266 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 4,387 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Amicus Therapeutics by 211.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,151 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 3,497 shares in the last quarter.

About Amicus Therapeutics

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.